Hi, I’m PAYE mainly , but have 3 small flats I let out. I’ve just submitted my first CGT for one of the flats that I sold in Dec 2020. The response submission says that I have nothing to pay in CGT, and also that I need to put this on my self assessment - could someone clarify if this means the 20/21 Self assessment ? I’m just doing my 19/20 right now and I’m assuming it doesn’t mean 19/20 ( as I could in theory have submitted this return months ago prior to the flat sale).
Assuming I’m correct , then when I complete my 20/21 self assessment, I’ll tick the box to say I disposed of property, go through all the motions again, with the same figures I used this year? Is that correct? I can’t work out why I have to repeat it all. Unless I’ve got the wrong end of the stick? Any advice appreciated!
Assuming I’m correct , then when I complete my 20/21 self assessment, I’ll tick the box to say I disposed of property, go through all the motions again, with the same figures I used this year? Is that correct? I can’t work out why I have to repeat it all. Unless I’ve got the wrong end of the stick? Any advice appreciated!
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