Self assessment and selling house

btcp

I am selling my house which is in joined tenancy with my husband, we are using all the money to buy a new one. Solicitor mentioned tax return which they can submit on our behalf. I need to submit a self assessment. A question - is there any links between the stamp duty tax return and my self assessment? Do I need to include stamp duty in my self assessment or solicitor’s submission is enough? 

Jeremy535897

Stamp duty is not dealt with on a self assessment tax return, although what you pay is added to the cost of your new property for capital gains tax purposes. If the property you are selling has always been your main residence, any gain will be exempt.

[Deleted User]

It sounds like you don’t  currently submit tax returns. It is strange that the solicitor will now submit one on your behalf when you don’t need one or do they simply mean the stamp duty return? As Jeremy has indicated, there is no capital gains tax due on the sale of a main residence.

macman

So, is it a main residence? If not, you must complete a CGT return and pay any tax due within 30 days of completion. It sounds as if this what your conveyancer is referring to?
 Nothing to do with stamp duty, which will be paid by your solicitor upon completion on the new property.

btcp

purdyoaten2 said:

It sounds like you don’t  currently submit tax returns. It is strange that the solicitor will now submit one on your behalf when you don’t need one or do they simply mean the stamp duty return? As Jeremy has indicated, there is no capital gains tax due on the sale of a main residence.

How does it sound I don't currently submit tax return? I did say that I do....Every year for the last few years. 
The stamp duty tax return is not needed because of the selling but because of the buying and paying stamp duty. 

btcp

macman said:

So, is it a main residence? If not, you must complete a CGT return and pay any tax due within 30 days of completion. It sounds as if this what your conveyancer is referring to?
 Nothing to do with stamp duty, which will be paid by your solicitor upon completion on the new property.

It is the main residence. It is not about selling but about buying and paying stamp duty. 
" Following the replacement of Inland Revenue Stamp Duty with Stamp Duty Land Tax, it is a legal requirement that within 14 days from completion of a house purchase a Tax Return is delivered to the Commissioners of Inland Revenue. In order to expedite this particular part of the house buying process for you we are able to complete the Tax Return on your behalf and submit it electronically to the Inland Revenue. "

Speedbird676

It's usual for your solicitor to submit the SDLT return and pay any SDLT due on your behalf after completion.

You do not need to include anything to do with SDLT on your self assessment. 

btcp

Speedbird676 said:

It's usual for your solicitor to submit the SDLT return and pay any SDLT due on your behalf after completion.

You do not need to include anything to do with SDLT on your self assessment. 

Thank you! 

[Deleted User]

btcp said:

purdyoaten2 said:

It sounds like you don’t  currently submit tax returns. It is strange that the solicitor will now submit one on your behalf when you don’t need one or do they simply mean the stamp duty return? As Jeremy has indicated, there is no capital gains tax due on the sale of a main residence.

How does it sound I don't currently submit tax return? I did say that I do....Every year for the last few years. 
The stamp duty tax return is not needed because of the selling but because of the buying and paying stamp duty. 

‘Solicitor mentioned tax return which they can submit on our behalf. I need to submit a self assessment’

This raised the possibility to me. Obviously I was mistaken, but I don’t think unreasonably, but did also suggest that it could be the stamp duty return and not the tax return. Like everyone on here, hopefully, I was simply trying to help!

btcp

[Deleted User] said:

btcp said:

[Deleted User] said:

It sounds like you don’t  currently submit tax returns. It is strange that the solicitor will now submit one on your behalf when you don’t need one or do they simply mean the stamp duty return? As Jeremy has indicated, there is no capital gains tax due on the sale of a main residence.

How does it sound I don't currently submit tax return? I did say that I do....Every year for the last few years. 
The stamp duty tax return is not needed because of the selling but because of the buying and paying stamp duty. 

‘Solicitor mentioned tax return which they can submit on our behalf. I need to submit a self assessment’

This raised the possibility to me. Obviously I was mistaken, but I don’t think unreasonably, but did also suggest that it could be the stamp duty return and not the tax return. Like everyone on here, hopefully, I was simply trying to help!

Of course you did try to help, I didn't mean to give you an impression I don't appreciate the comment. I think the confusion is that both documents referred to as "tax return": "self assessment tax return" and "stamp duty tax return".  I had no idea if they are different or the same thing.