The Lemon Fool

Late last year (2020) I disposed of an investment property & promptly completed the relevant CGT Form, worked out the CGT owing & paid
within the 28-day limit. All this acknowledged by HMRC.

Now I am having a look at my regular SA return for 2020-21, (Yes, I know it's a tad prompt but when completed I expect a useful rebate!). When I log into my account with HMRC I can't see any record of the CGT payment. Any ideas about where online it can be located & checked so that it will recognised when I complete the SA return?

You enter the CGT already paid in one of the boxes in the self assessment Capital Gains pages. It should pop up when you use the HMRC online software.

bluedonkey wrote:You enter the CGT already paid in one of the boxes in the self assessment Capital Gains pages. It should pop up when you use the HMRC online software.

Additionally, I believe you should note the following on the online version of the Capital Gains Tax summary:

Box 21 Total gains or losses on the disposal
of an asset of this type reported on Real Time
Transaction returns

... Enter the reference numbers for any ‘real time’
Capital Gains Tax submissions made in box 54.

Extracted from Page CGN 6:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/974133/SA108_English_Notes_2021.pdf

Raheen wrote:Late last year (2020) I disposed of an investment property & promptly completed the relevant CGT Form, worked out the CGT owing & paid within the 28-day limit.

Are you sure you had to do that?

When I sold various BTLs I simply reported the numbers in the next SA return. They were all accepted by HMRC without any mention of a 28 day time period.

It is 11 years since I sold the last one, however, if that makes a difference.

Lootman wrote:

Raheen wrote:Late last year (2020) I disposed of an investment property & promptly completed the relevant CGT Form, worked out the CGT owing & paid within the 28-day limit.

Are you sure you had to do that?

When I sold various BTLs I simply reported the numbers in the next SA return. They were all accepted by HMRC without any mention of a 28 day time period.

It is 11 years since I sold the last one, however, if that makes a difference.

CGT on the sale of property now has to be paid within 30 days of completion, hence the online CGT submission system rather than waiting for the next SA return.

''CGT on the sale of property now has to be paid within 30 days of completion, hence the online CGT submission system rather than waiting for the next SA return.''

how does this work regarding sale of an overseas holiday home?
I realise that I shall pay CGT 'over there' as applicable, but doubt very much if Portugal will accept that UK CGT already paid so charge me less!

I am expecting to pay their rate CGT...and then extra (if applic) at UK rate LESS what paid in Portugal, on basis dual tax agreements

there is no way Potugal system will be anywhere near 28 days...probably a year or two !!

Think it only applies to UK property not any other assets

scrumpyjack wrote:Think it only applies to UK property not any other assets

Yes, only applies to UK residential property.

bluedonkey wrote:

scrumpyjack wrote:Think it only applies to UK property not any other assets

Yes, only applies to UK residential property.

Thanks for that, it saves me reading up on the subject as we are currently just starting the process of selling our Swedish house; that is if we we can sort getting there with a car/roofbox/trailer sometime later this year to remove our personal belongings, albeit we need to comply with all the combined Scotland/England/Netherlands/Germany/Denmark/Sweden covid rules to get there and back; I even have a likely buyer (our neighbour in Sweden).

as said.......that is if we we can sort getting there with a car/roofbox/trailer sometime later this year to remove our personal belongings, albeit we need to comply with all the combined Scotland/England/Netherlands/Germany/Denmark/Sweden covid rules to get there and back; I even have a likely buyer (our neighbour in Sweden).

same here, my buyer has said he will 'store or deliver' my stuff to anywhere 'local' since I cannot get there
he has the keys and is aware how much personal stuff i have....but not sure how long he will be happy storing it for!!

covid has lots to answer for, but I guess these problems are small compared to those suffered by others