Capital gains tax

Hello there, I will have around 200k CGT tax for 2024/2025..... Well bit high is there anyway I can pay it in installments ??? Is there any other way to pay it over time ??? 200k Pounds is a lot, Regards

Hi Marekcrypto,
You will need to report the capital gain to HMRC in the first instance.
Only when the capital gain liability exists on our CG service, will you be able to contact HMRC to discuss time to pay on 0300 200 3844 (an agent or 3rd party cannot do this for you).
There is no guarantee that a time to pay arrangement will be accepted.
You should work out a payment proposal plan and have this ready to discuss with the debt management adviser.
If you want to set up a direct debit to pay the payment plan, you will need a UK bank account.
Interest will continue to accrue on tax owed on a daily basis, from the due date until your payment in full.
You may be charged penalties for late payments.
Thank you. 


 

How to post my question?

My husband and I decided to sell our 2nd property May 2024. We accepted an offer in June 2024. Sadly my husband passed in August 2024. The sale completed on 11th October 2024. by his Will and holding the property in joint names his 50% passed to me. I want to pay the CGT liability asap. My problem is that when I go online to complete a form which do I complete to reflect my situation?

Hi,
This will still be the property disposal form and you are now selling 100% rather than 50%.
Your purchase price is your half when originally purchased and the other 50% of the value when your husband passed.
Thank you.

My late Mother has left me a Stocks and Shares ISA in her Will . Can you explain how CGT will be assessed on the Gain when I encash this and can I use my CGT Allowance against this ?

Hi,
Please refer to guidance using the link below:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you