Second CGT Report of the year - Losses and Gains

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    Second CGT Report of the year - Losses and Gains

    I sold a rental property that I jointly owned with my brother in July this year.
    I completed a CGT return and had a CGT bill of just over £5.6K.
    I am about to sell a second property that I own outright. The sale has dragged on but I am predicting overall to be reporting a loss when all professional fees are deducted from the sale price. Will I be able to get a refund on some of the CGT I have already paid to compensate for these losses? If so how do I go about it? Will it be recovered through my self assessment ?

    #2
    I would expect you to submit a capital gains return after second property is sold, reporting a loss and no tax to pay.

    After April 2022, you can submit a self assessment tax return for 2021/22 showing the total capital gain for the year and claim back any over payment of tax.

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