help capital gains tax

michael4343

i sold a house in march this year used hmrc tool to work out money owed have checked amounts 5 times same amount every time when i fill in my self easement with the same amounts hmrc say i have under payed on my capital gain but the numbers are the same 

Isthisforreal99

Give is a clue with some figures?

Could it be that some of the gain turned out to be taxable at 24% rather than 18%?

DRS1

Isthisforreal99 said:

Give is a clue with some figures?

Could it be that some of the gain turned out to be taxable at 24% rather than 18%?

Having seen the numbers in the other thread it looks like that is exactly what happened..  Maybe something to do with Marriage allowance?

UnsureAboutthis

Could it be you have other investments, etc and you have forgotten, and/or mistakenly put the wrong figures in?
HMRC is increasingly using AI to track people's history
and can access saving accounts, council tax, Land Registry and a bit more
and then they cross-reference.

When I completed my/our self-assessment tax return a few months ago for 2024/25, a message came up
similar to yours on my and my OH's -  There was no CGT, not even a penny, so I logged out and back it, and the message never materialised again.

Btw - as you complete the CGT bit -  are there any tick boxes you need to tick and possibly ticking the wrong box?

I'd call the HMRC helpline, I'e found them helpful, but getting past the automated sytem was a nightmare as
I kept on getting cut off, ie wanting to speak to a "human" but it kept taking me down a different path and then ended the call.

UnsureAboutthis

DRS1 said:

Isthisforreal99 said:

Give is a clue with some figures?

Could it be that some of the gain turned out to be taxable at 24% rather than 18%?

Having seen the numbers in the other thread it looks like that is exactly what happened..  Maybe something to do with Marriage allowance?

But does the calculator not autmatically adjust tax levels, ie the first bit of CGT is this for you, and then the remaining bit is taxed at ...... ?

mybestattempt

UnsureAboutthis said:

Could it be you have other investments, etc and you have forgotten, and/or mistakenly put the wrong figures in?
HMRC is increasingly using AI to track people's history
and can access saving accounts, council tax, Land Registry and a bit more
and then they cross-reference.

When I completed my/our self-assessment tax return a few months ago for 2024/25, a message came up
similar to yours on my and my OH's -  There was no CGT, not even a penny, so I logged out and back it, and the message never materialised again.

Btw - as you complete the CGT bit -  are there any tick boxes you need to tick and possibly ticking the wrong box?

I'd call the HMRC helpline, I'e found them helpful, but getting past the automated sytem was a nightmare as
I kept on getting cut off, ie wanting to speak to a "human" but it kept taking me down a different path and then ended the call.

It's still self assessment.

As far as I'm aware you're not being tracked by AI while you're completing a return.

HMRC has had access to real intelligence for decades and uses it to check self assessment returns after they have been submitted/processed.


The 60 day capital gains return produces a notional capital gains tax charge based on the taxpayer's reasonable estimate of their taxable income for the tax year involved.

The self assessment return will/should include the actual taxable income which may well result in the finalised CGT charge being a different amount to the notional amount.

DRS1

UnsureAboutthis said:

DRS1 said:

Isthisforreal99 said:

Give is a clue with some figures?

Could it be that some of the gain turned out to be taxable at 24% rather than 18%?

Having seen the numbers in the other thread it looks like that is exactly what happened..  Maybe something to do with Marriage allowance?

But does the calculator not autmatically adjust tax levels, ie the first bit of CGT is this for you, and then the remaining bit is taxed at ...... ?

From the other thread it looks like the second calculation has more in the 24% band and less in the 18% band.  Either that is because the OP had lower income figures for the first calculation or it is something else (and I wondered if that something else was how the marriage allowance was accounted for - eg maybe the first calculation added it to the personal allowance perhaps).  I haven't used the calculator so I was just guessing.