Capital Gain in 2012-13: when is tax due for payment?

efkay

My sister and I shared in the proceeds of a house disposal in July 2012 and am wondering when this tax is due to be paid.

I live in France, so my tax declaration/payment is somewhat different to my sister.

That said, my elder sister was in receipt of housing benefits and pension credit when the gain was made and as such has never had to fill in a tax form, let alone a self-assessment declaration. Can anyone tell me just how she should go about making her CGT declaration as well as paying the small amount of tax due - can she just write to HMRC for example? Or does she have to register for SA and fill in an extremely intimidating form for a 70 + year old.

Lastly, just when is the tax due for payment?

Thanks in anticipation.

John_Pierpoint

Your sister's problem might be how quickly she informed the authorities about her enhanced capital and the interest it would be earning, relative to her benefits?

Once upon a time, I was in receipt of the proceeds of sale of a family property. No CGT was payable but the disposal was more than 4x the annual CGT exemption. So I wrote the tax man a nice letter, trying to take the angle that there were two sorts of tax: Income Tax and Capital Gains Tax:
Here is my self assessment for the Income tax (that I must submit every year as I have property income) and my letter for the (nil) CGT. I got a very dusty response and the complicated CGT form to complete.
However my sister in exactly the same situation got away with the letter approach at her tax office.
I would send the letter giving the simple facts and the calculation and if the response is a form to complete then so be it.

The tax payment will be due this time next year.

xylophone

housing benefits and pension credit

Did the money received make any difference to this? Did she need to advise the council etc?
http://www.ageuk.org.uk/money-matters/claiming-benefits/means-tested-benefits/

zygurat789

Are you sure there is a capital gain, your sister does not appear to have been in receipt of any rental income. What were the circumstances of the sale and what had the house been used for prior to sale?