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CGT on property self assessment

Practical Issues
petronius
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CGT on property self assessment

#270634

Postby petronius » December 12th, 2019, 5:08 pm

Can anybody advise on the following:

I bought a house in 2009 and sold it in 2019. It had been my main residence for most of the time but was let out for 3 years. Based on HMRC guidlines, I made my calculations of private residential relief (PPR) and letting relief (LET) and I believe that the total relief (PPR+LET) should cover the whole gain made.

Assuming my calculations are correct (and no tax is due) do I still need to report the sale in the CGT section of the online self-assessment? I found a leaflet by HMRC saying that one does not need to report a sale for a property that was always the main residence of the owner, but my case is slightly different, as the house was let for a period. Thanks!

scrumpyjack
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Re: CGT on property self assessment

#270638

Postby scrumpyjack » December 12th, 2019, 5:29 pm

You will need to complete the CGT pages

https://www.gov.uk/government/publicati ... elief-2019

"If you do not meet all of the conditions, you may still get partial relief under certain circumstances and you’ll need to complete the Capital Gains Tax summary pages of your tax return."

petronius
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Re: CGT on property self assessment

#270651

Postby petronius » December 12th, 2019, 6:18 pm

"If you do not meet all of the conditions, you may still get partial relief under certain circumstances and you’ll need to complete the Capital Gains Tax summary pages of your tax return."
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OK, thanks, it means I will have to complete the CGT part of SA.

The next (minor) problem I have is that in the paper version there are the following codes:

Private Residence Relief where Letting Relief does not apply PRR
Private Residence Relief where Letting Relief applies LET

But in the online version I can only choose "Private Residence Relief" or "Multiple Concessions". I guess wll have to go with multiple...


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