CGT on sale of property. Self assesment issue?

ProDave

Late last year we sold a property that has previously been our main residence and was then let for a period before sale.  When we sold it we declared the capital gain and paid the tax due to hmrc in January 2024.

A discussion at the time on this forum said you have to enter all those details again when completing your self assesment at the end of the year.

So I have just done that, and it is wanting to charge me again fir the capital gain tax already paid.  I have a reference number for the previous payment beginning XPCGT

So was the previous advice that I have to enter it all again on my end of year tax return wrong and I can delete it?  Or am I missing somewhere where it says "I have already paid this"?

Bookworm105

HMRC quote:
If you have no other reason to complete a tax return then no, you don't need to declare again.
If you do normally complete a return then you will declare the gain again and also complete the section for gains already reported so that you are not charged tax twice.

as the property was let I assume you DO have to submit SA, so complete the second section as well and the problem will be resolved.


always wise to read the instructions ... Box 10 and/or Box 11 and/or Box 12 as applic
Capital Gains Summary notes (publishing.service.gov.uk)

km1500

if you are completing your self assessment form then obviously the first thing on page one is that you check cgt so that the cgt page is presented to you

on the cgt page you enter the figures requested and that will show you the cgt payable 

there is also a box on that page 'do you want to claim any reliefs' and you click the drop down box and choose 'other'

you then enter the amount paid already in the field below the box and it will take it off when it does the calculations at the end

ProDave

Thanks.  I thought I had done that, but separately next box down you also have to enter the amount of CGT you have paid, as well as the capital gain amount it was based on.

All very complicated for the average person.

Bookworm105

ProDave 

All very complicated for the average person.

yes, average people never read instructions