Glossary

This page is a stub. The full guide is written against the shipped app version and is on its way.

Annual exempt amount (AEA). The tax-free capital gains allowance, £3,000 a year since 2024 to 2025. Gains under it in a year owe no capital gains tax.

Bed and breakfast rule. The nickname for the 30-day rule, selling and rebuying within 30 days matches the sale against the rebuy, see the UK rules.

Confidence score. The app’s live grade of its own certainty about your figures, out of 100, explained in the confidence score.

Cost basis. What you gave up to acquire units, purchase price plus allowable costs. Missing cost basis is the finding that protects you from overstated tax, see missing acquisitions.

Disposal. Any event tax law treats as you parting with an asset, a sale, a swap into another asset, spending, or gifting to anyone but your spouse or civil partner.

Matching. Deciding which acquisition a disposal is set against, same-day first, next 30 days second, the pool last.

Negligible value claim. A section 24(2) TCGA 1992 claim that an asset you still hold has become worthless, crystallising the loss without a sale.

Pool, section 104. The running per-asset holding at average cost that absorbs everything not matched by the first two rules.

Proceeds. What a disposal brought in, in pounds, at the time it happened.

Reconciliation. The work of making the workspace agree with reality, imports previewed, counts explained, flags answered, wallets balancing.

Session file. The complete workspace as one file, exports free at any size, reopens in the app anywhere, never locked.

Tax event. A row that matters to the computation. Files count rows, the engine counts tax events, the difference is shown at import, see the reconciliation count.

Tax year. 6 April to 5 April, the UK’s year, every report is grouped by it.

Working paper. The report showing every disposal with its rule, arithmetic and citation, the audit trail behind every other number.