📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Capital Gains Self Assessment Disposing of chargeable assets

I usually complete my self assessment because my finances are simple.
Last  year I sold my property and have to pay CGT for the period that I rented it.
I used an accountant to compute the figures which he sent to me.
I thought I would just have to fill in my self assessment as usual, tick a CGT box and attach the figures from the accountant.
                                             ____________________________________________________
However, I am not understanding the questions.  Such as:  
In this question, am I being asked for the price I sold my house?
Or is it asking me for the figure 'Gain Subject to Tax' which the accountant worked out for me?
Or the tax figure I would have to pay subject to 28%? I would tick no if that were the case.
I will not have to pay 28% but that is the only figure the accountant has given.  
Or are they asking for some other figure?
As you can see, I am very confused and maybe I should use an accountant to do my self assessment.  Whatever, I am still interested in any info.




Comments

  • Jeremy535897
    Jeremy535897 Posts: 10,745 Forumite
    10,000 Posts Fifth Anniversary Photogenic Name Dropper
    The question asks whether you sold chargeable assets for more than £48,000 (a figure which is four times the annual exempt amount). Assuming the sale price of the house was more than £48,000, choose "yes", and then you will be asked to do the computation which your accountant has supplied.
  • ZZaffy
    ZZaffy Posts: 176 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thank you so much.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.