Capital Gains Tax- How to appeal late submission fine

EvaKatz

Hi, I recently became aware that I should have submitted a Capital Gains Tax return within 60 days of selling a property (I’ve been submitting my SA tax returns for many years, and mistakenly believed this was the means by which I should report/ pay CGT) and have been fined a large amount for the late submission.

An accountant advised it might be worth sending a letter appealing the fine, so I attached this as a supporting document to my return and sent a copy to the HMRC CGT Dept.

My argument was that I did not realise a separate return was required (one of the reasonable reasons they list), that my conveyancing solicitor did not mention it, that I had previously submitted SA returns on time, and that I rectified my mistake as soon as I realised.

My question is- was a letter the right way to appeal this, or is there a more formal way, such as form, to appeal the fine? I’ve not had any correspondence from HMRC, I just know about the fine as it appeared on my online account. 

It's due to be paid in month, so not sure if I should just wait to hear from them, or if I should follow it up/ do anything else? fyi I've paid the bill + interest, but not paid the fine yet.

Any feedback would be appreciated. Thank you.

HoratioF

Disappointing lack of responses to this. Can I ask how you got on? I'm in exactly the same situation and HMRC aren't budging, apparently I should be thoroughly versed in their random filing methods and dates for different taxes that also go on my SA...

Bookworm105

HoratioF said:

Disappointing lack of responses to this. Can I ask how you got on? I'm in exactly the same situation and HMRC aren't budging, apparently I should be thoroughly versed in their random filing methods and dates for different taxes that also go on my SA...

sorry but if you are already within self assessment for income tax purposes you are expected to be a but more pro active when facing other taxes and go and read up on them.
The obvious start point being the instructions on how to fill out your tax return.
The helpsheet for CGT in respect of land (ie property) has, at point 1, the explanation of the 60 day rule.

Help with Capital Gains on your Self Assessment tax return - GOV.UK

theartfullodger

Bit like saying you didn't realise that streetlight roads are 30 mph max unless otherwise indicated.  Sorry, pay up.  Didn't it used to have to be declared and pay within 30 days a few years ago?

Best regards to all 

AskAsk

ignorance isn't an excuse i am afraid, and yes, it should be made clearer to people selling property about capital gains tax submissions.

my solicitor does state in her letter that CGT may be liable and that i need to submit a return, but ultimately the seller is left to his devices and is expected to know that he needs to complete the tacx submission within 60 days.

i am surprised that you accountant even suggest that you could make an appeal as he should know better that there are no grounds for appeal.

Bookworm105

AskAsk said:

i am surprised that you accountant even suggest that you could make an appeal as he should know better that there are no grounds for appeal.

fees for supporting an appeal - cynic? me? well alright then, yes.