CGT calculator available within online self assessment?

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  • logcabin
    replied
    Thanks for the link.

    When applying the rate of tax to the capital gain, I first need to work out which tax band I fall in. Is the tax band based on the annual income before or after annual expenses and reliefs have been deducted?

    Leave a comment:


  • Gordon999
    replied
    http://www.hmrc.gov.uk/cgt/property/calc-cgt.htm

    Leave a comment:


  • CGT calculator available within online self assessment?

    I'm filling out my tax return using the online self assessment service. Is there a cgt calculator within the online service? If so, can someone guide me to it as I can't find it? Thank you.

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  • Reply to CGT and income
    by slopemaster
    Thank you all
    06-07-2022, 14:47 PM
  • CGT and income
    by slopemaster
    Considering selling our rental property and trying to estimate how much CGT is due. We are both basic rate tax payers and the gain from the property will take us into higher rate, so the amount of tax we pay will depend on income for that year – it does vary year to year. I presume the relevant income...
    06-07-2022, 05:47 AM
  • Reply to CGT and income
    by Lesney Park
    Yes

    You do, or better an accountant but essentially you report and pay the gain at HMRC https://www.gov.uk/report-and-pay-yo...r-6-april-2020 estimating what you need to, and then report it again essentially in your tax return...
    06-07-2022, 08:34 AM
  • Reply to CGT and income
    by jpkeates
    You estimate your income for this year and declare and pay the tax accordingly.
    When you complete your tax return for the tax year, the figures are adjusted then....
    06-07-2022, 08:27 AM
  • Reply to CGT and income
    by theartfullodger
    60 days not 2 months.
    06-07-2022, 07:50 AM
  • Reply to SDLT and first time buyers
    by DoricPixie
    How old are these children if they have yet to go to university?...
    04-07-2022, 22:50 PM
  • SDLT and first time buyers
    by mpppen
    Hello again.

    Just wondering if someone can advise.

    If I sell a BTL to my children who do not own their own property, I understand that they'll get the stamp duty relief.... two questions then.

    If they're buying the £350,000 jointly, does the relief count for...
    03-07-2022, 21:52 PM
  • Reply to SDLT and first time buyers
    by jpkeates
    If the buyers are going to rent the property while they go to university, it may meet the criteria for Stamp Duty Relief but it may not.
    It would be unusual for siblings leaving university to be able to commit to cohabit in a particular place when they graduate.

    There's obviously...
    04-07-2022, 15:14 PM
  • Reply to SDLT and first time buyers
    by AndrewDod
    Apart from anything else, if you are selling the property to the kids, you are getting cash and they have a 100% mortgage - and then they are not actually paying a mortgage on 100% of 350K you will be paying it -- it is not a classic GROB, but risks falling foul of GROB rules - so when you die, even...
    04-07-2022, 14:45 PM
  • Reply to SDLT and first time buyers
    by mpppen
    Thanks.

    Yes, the lender is happy to lend them 100% the purchase price so not gifting on our side. In essence, it's just removing it from our name into theirs as he is also our lender.

    It's unusual I appreciate but it's a private commercial lender - if that makes sense. His...
    04-07-2022, 13:55 PM
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