How do I file a late (Stocks and Shares) Capital Gains Tax return.

homeless9

Hi,

Was just filling out my (stock and shares) tax return on HMRC website and it would not allow me to put the date I disposed of the asset in... saying 'you can't use a date from the current tax year'... The relevant tax year is april 2023 to april 2024....

Confused - I checked out the deadline and realised it was end December. I has assumed it was end of January as that is what it is/was for Self Assessment...

So... how do I file my return now it's late if it doesn't allow me to enter the date and progress the online return? can anyone help?

Thanks.

I did see that you can just send money to HMRC will no form filling out.....but if I do this surely I'd still have to fill a form out at some point soon? but where is that form, is it online?

Keep_pedalling

If it is in the current tax year then it will go on your next return. If the gain is on property however that needs reporting and paying within 60 days of the sale.

https://www.gov.uk/report-and-pay-your-capital-gains-tax/ways-to-pay

homeless9

Keep_pedalling said:

If it is in the current tax year then it will go on your next return. If the gain is on property however that needs reporting and paying within 60 days of the sale.

https://www.gov.uk/report-and-pay-your-capital-gains-tax/ways-to-pay

It's for stocks/shares for the 2023 to 2024 tax year. Deadline was 31st December just gone....

I cannot see how I now put through my (late) tax return.... as their system won't allow me to through the normal process...

I have no clue what to do after googling and googling about it.

Dazed_and_C0nfused

homeless9 said:

Keep_pedalling said:

If it is in the current tax year then it will go on your next return. If the gain is on property however that needs reporting and paying within 60 days of the sale.

https://www.gov.uk/report-and-pay-your-capital-gains-tax/ways-to-pay

It's for stocks/shares for the 2023 to 2024 tax year. Deadline was 31st December just gone....

I cannot see how I now put through my (late) tax return.... as their system won't allow me to through the normal process...

I have no clue what to do after googling and googling about it.

I think you are getting very confused.

There is no 31 December deadline for 2023-24.

There was a 30 December 2024 deadline, if you wanted the tax collecting via next tax year tax code, although not sure if that is even possible for CGT. 

Or 31 January 2025 for filing the return and paying HMRC direct by 31 January 2025 as well. 

Given this comment in your original post maybe you could clarify what date you used and why?

and it would not allow me to put the date I disposed of the asset in... saying 'you can't use a date from the current tax year'... 

Keep_pedalling

What date are you entering?

homeless9

HMRC is not clear at all. Their website is damn awful.

They state that CPG must be reported by 31st December.... but don't make it clear that that's actually just for the sale of property.

They don't make it clear that I, having sold stocks/shares need to fill out a Self Assessment form....

I am still not clear on what the heck I am supposed to do and if what I have wrote above is even correct...

I am now trying to fill out a Self Assessment form....something I have done in the past for a self-employed business...but one of their pages tells me that if I did not fill out a form the previous tax year then I'll need to 'Reactivate you Self Assessment' (whatever that means)....so I clicked on the link, signed in and I see absolutely no button/link/option where it says 'reactivate self assessment'....

There isn't even an option to just fill out a self assessment form....there's an option to 'make a self assessment payment' which literally takes you to a link asking you to type in a sum of money and pay it - which is not what I have to do....

I remember HMRC's website is diabolical from the time I was self-employed....it still is. It has pages and pages of info with random highlighted text with links and you click on the links hoping they are going to take you to the page you need....but they rarely do.

How the heck do I 'reactivate self assessment'

sheramber

Dazed_and_C0nfused said:

homeless9 said:

Keep_pedalling said:

If it is in the current tax year then it will go on your next return. If the gain is on property however that needs reporting and paying within 60 days of the sale.

https://www.gov.uk/report-and-pay-your-capital-gains-tax/ways-to-pay

It's for stocks/shares for the 2023 to 2024 tax year. Deadline was 31st December just gone....

I cannot see how I now put through my (late) tax return.... as their system won't allow me to through the normal process...

I have no clue what to do after googling and googling about it.

I think you are getting very confused.

There is no 31 December deadline for 2023-24.

There was a 30 December 2024 deadline, if you wanted the tax collecting via next tax year tax code, although not sure if that is even possible for CGT. 

Or 31 January 2025 for filing the return and paying HMRC direct by 31 January 2025 as well. 

Given this comment in your original post maybe you could clarify what date you used and why?

and it would not allow me to put the date I disposed of the asset in... saying 'you can't use a date from the current tax year'... 

https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-have-other-capital-gains-to-report

You must report by 31 December in the tax year after you made your gain and pay by 31 January. For example, if you made a gain in the 2024 to 2025 tax year, you need to report it by 31 December 2025 and pay by 31 January 2026.

homeless9

sheramber said:

Dazed_and_C0nfused said:

homeless9 said:

Keep_pedalling said:

If it is in the current tax year then it will go on your next return. If the gain is on property however that needs reporting and paying within 60 days of the sale.

https://www.gov.uk/report-and-pay-your-capital-gains-tax/ways-to-pay

It's for stocks/shares for the 2023 to 2024 tax year. Deadline was 31st December just gone....

I cannot see how I now put through my (late) tax return.... as their system won't allow me to through the normal process...

I have no clue what to do after googling and googling about it.

I think you are getting very confused.

There is no 31 December deadline for 2023-24.

There was a 30 December 2024 deadline, if you wanted the tax collecting via next tax year tax code, although not sure if that is even possible for CGT. 

Or 31 January 2025 for filing the return and paying HMRC direct by 31 January 2025 as well. 

Given this comment in your original post maybe you could clarify what date you used and why?

and it would not allow me to put the date I disposed of the asset in... saying 'you can't use a date from the current tax year'... 

https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-have-other-capital-gains-to-report

You must report by 31 December in the tax year after you made your gain and pay by 31 January. For example, if you made a gain in the 2024 to 2025 tax year, you need to report it by 31 December 2025 and pay by 31 January 2026.

This is what I originally thought.

If I click the big green button link at the bottom of the link you just posted...I fill the filing form out and it doesn't allow me to when I put in the date I sold the assets. Date of Jan 16th 2024. So the previous tax year....

It won't allow me because the deadline of 31st December has gone and it's moved on to the next tax year for filing...

But HMRC doesn't both telling me on the form that I am late and what I need to do next.... NOTHING. I am going round and round in circles trying to work this out....

They state elsewhere that if you have CGT to report you can do it via Self Assessment and the deadline for filing that is 31st January. I am absolutely lost at what I am supposed to do as I also have no idea how I find the self assessment form...there is no link on my GOV account to fill one out.

homeless9

I watched this video on youtube from HMRC, which isn't that old, uploaded end of 2023...

Title of video: 

How do I register online for Self Assessment if I'm not self-employed?

https://www.youtube.com/watch?v=6ia0F3zitD0&ab_channel=HMRCgovuk

It states you can register online for self assessment if you owe capital gains tax... see 0.57 second mark.

On the HMRC website it states: "If you’ve registered for Self Assessment before but did not send a tax return last year, you must register again to reactivate your account."...this is my situation...

so, in that video it gives a link to fill out the form to register - which I have filled out and sent... it tells me I'll receive a UTR number - but I already have one. Now what HMRC?

Your video also says deadline to file and pay is 31st January.... but I don't see how I actually file anywhere. Hours and hours of this and I have got nowhere.

My assumption is that I will either receive an email or a link will appear on my account at some point in the next weeks which will allow me to fill out a self assessment form, but nowhere in the video or on HMRC's website does it state that.

EDIT: I found on my account under self assessment the following: 

• if you have only just activated your Self Assessment service, you will need to allow up to 72 hours before you can file a return for a previous tax year.

Why it doesn't tell you this either in the video I linked...and why it doesn't tell you on the HMRC guidance pages - I DO NOT KNOW!....

anyway, hopefully I just wait for something to pop up in ~72 hours that will take me to the relevant forms I will need to fill out.

Bookworm105

homeless9 

anyway, hopefully I just wait for something to pop up in ~72 hours that will take me to the relevant forms I will need to fill out.

you will continue under your original UTR
it is a matter of keep checking your online tax account until the ability to submit SA is indeed reactivated 

SeaYaNextTime

@homeless9 did you manage to submit the return? I am facing a similar problem