Need to report property CGT if no liability?

in Cutting tax
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7sefton7sefton Forumite
585 Posts
Part of the Furniture 100 Posts Combo Breaker
Hi there

I just sold a rental property but the capital gain, after allowable expenses, was under the allowance. Do I still need to report it to HMRC if my Capital Gains Tax liability is zero?



  • edited 19 July 2022 at 5:53AM
    Jeremy535897Jeremy535897 Forumite
    9.8K Posts
    1,000 Posts Third Anniversary Name Dropper
    edited 19 July 2022 at 5:53AM
    You do not need to report the gain on the sale of a UK residential property within 60 days of completion if there is no tax to pay. That depends in part on whether you have made any other gains so far in the tax year.

    If you do not complete self assessment tax returns, this transaction will not cause you to have to complete one, but if you do have to complete a self assessment tax return for other reasons, you will have to declare the disposal if the proceeds (from this and any other capital gains tax disposals in the tax year) exceeded £49,200.
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