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Posted Thu, 15 Aug 2024 22:16:13 GMT by Helen Tallant
We sold our rental property at the end of June. I’ve completed our CG returns this evening and have paid what I owe. My husband has set up a bank transfer for his for next week. I’ve since realised that the projected income figure on our HMRC portals for this current tax year - which I used for both CG returns - is incorrect as it includes the rental income we no longer receive. What are my options for updating the returns as I think we will have over-paid?
Posted Thu, 29 Aug 2024 11:32:48 GMT by HMRC Admin 20 Response
Hi,
You can go back into the capital gains account and amend your figures or wait until after the end of the tax year to show the information on the actual tax return.
Thank you.
Posted Wed, 04 Sep 2024 20:01:41 GMT by Helen Tallant
I’ve looked at my online CGT account - there isn’t the facility to amend income details. Can you please clarify what you mean by waiting “until the end of the tax year to show the information on the actual tax return”. We have written to HMRC about this. When should we expect a reply?
Posted Wed, 11 Sep 2024 14:23:35 GMT by HMRC Admin 10 Response
Hi
As you already complete a tax return, then your actual income will be declared there for any potential repayment to be calculated. As the property was sold this year, this will be after 6/4/25.

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