CGT return

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    CGT return

    I'm right that when a property is sold and there's a CGT liability, the return now has to be made within 30 days?
    My accountant is telling me otherwise, and I can't believe it's something they'd be wrong about!
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

    #2
    Originally posted by jpkeates View Post
    I'm right that when a property is sold and there's a CGT liability, the return now has to be made within 30 days?
    My accountant is telling me otherwise, and I can't believe it's something they'd be wrong about!
    Preety sure it's wether there is a liability or not. Time for new accountant.

    edit, I mean of course a personal liability, ie you masy be under the threshold but still need to file.

    Comment


      #3
      Declare and pay within 30 days .

      Ask accountant for promise to pay any late charges.
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

      Comment


        #4
        https://www.gov.uk/guidance/capital-...ntial-property

        Comment


          #5
          For property sold after 6 April 2020, the seller is required to submit a CGT calculation within 30 Days..

          https://www.gov.uk/capital-gains-tax...ital-gains-tax

          Comment


            #6
            Thank you.
            A group of people more knowledgeable than my (previously trusted) accountant!
            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

            Comment


              #7
              Just to keep you up to date, I got an apologetic phone call this morning saying he'd had a brain fart and used an old standard response to my email which was wrong.
              When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
              Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

              Comment

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                As per above, as the place is "part-furnished", which will not incude pictures on walls.

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              • Reply to Damaged artwork expense
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              • Reply to Damaged artwork expense
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                Thanks guys. I dont know what came over me! A momentary wave of altruism. Most unlike me!

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