Capital Gains Tax Reporting.

subjecttocontract

In June 2025 I completed the sale of a property in Spain & submitted the HMRC form for CGT reporting within a month as required. I'm now doing my 25/26 tax return......do I need to include the CGT reporting again ?

poseidon1

I would have imagined that most people who sold an overseas property would elect to report a taxable gain thereon via self assessment in order to defer paying the tax until January 2027( in this case), and if foreign CGT had been paid at source ( as is the norm for Spain) claim a foreign tax credit against their UK liability.

However, for some reason you seem to have chosen HMRC's Real Time CGT reporting service as set out below -

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

Using that service means you have no obligation to submit a self assessment return as indicated in the article below -

https://www.taxinsider.co.uk/tax-articles/capital-gains-reporting-without-completing-tax-returns

However, if you did in fact pay Spanish 19% CGT at source , you might wish to to submit a self assessment tax return, since HMRC's Real Time service cannot accommodate claims for foreign tax credits.

In other words you may have paid too much UK CGT as well as paying too soon the first time around, so the self assessment return might give you a 2nd bite of the cherry.

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/comment/81990608#Comment_81990608

I think the op is expected to file a return for some reason i.e. a notice to file has been issued for 2025/26.

In which case don't you have to report the gain again, and claim credit for the tax already paid using the CGT reporting service?

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/81990658#Comment_81990658

I now see that OP is already in the midst of preparing a return, so he is bound to report the Spanish gain yet again but this time with the benefit of any foreign tax credit he maybe entitled to.

However, I remain curious as to why he went to bother of using the Real Time online service in the first place given all the disadvantages of doing so, and evidently having to eventually self assess in any event.

silvercar

https://forums.moneysavingexpert.com/discussion/6667314/capital-gains-tax-reporting

My understanding is that the requirement to report within a month only applies to UK property, overseas properties can be reported within the general timescales.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/81990680#Comment_81990680

Uk residential property gain reporting is now a 60 day reporting obligation, via a separate and distinct online reporting process.

https://www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-property

The Real Time service is for all other gains where the tax payer is outside the requirement to self assess, so an option for reporting one off foreign property gains ( as an example), but I cannot imagine why anyone would choose that route where there is an actual tax liability in point ( why volunteer to pay tax far sooner than necessary?).

subjecttocontract

As the saying goes, tax may not need to be taxing and it may seem easy to those that know what to do but to the rest of us that's not always the case. So, the answer seems to be yes, I do need to include the sale of a Spanish property. At the start of the Self Assessment form it asks if I made a disposal over, I think, £50K which I have and which prompted me to ask the question. Thanks for info, much appreciated.