Capital Gains returns....
Capital Gains returns....
Author
Discussion

Tony 1234

Original Poster:

3,465 posts

258 months

Wednesday 14th January 2009
quotequote all
how many years should they be kept, getting swamped now and want to start throwing out.

Thanks

Eric Mc

125,873 posts

296 months

Wednesday 14th January 2009
quotequote all
The normal rule is six years after the relevant Self Assessment tax return in which the Capital Gain was returned.

So, if the gain was returned in the 2007/08 tax return, that means the gain occured in the year ended 5 April 2008. I would feel safe chucking stuff relating to that particul;ar capital gain on or after 6 April 2010 (note that the gain itself could have occured any time between 6 April 2007 and 5 April 2008).
And of course, part of the computation would relate to the original purchase cost of the item disposed - which could date back many years.

Edited by Eric Mc on Wednesday 14th January 13:13

Tony 1234

Original Poster:

3,465 posts

258 months

Thursday 15th January 2009
quotequote all
Thanks Eric, all sorted now. smile