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Posted Thu, 09 May 2024 14:25:39 GMT by Jake Townsend
Hello, I sold a property in 2022 and made a CGT loss. I reported this on my 22/23 Self Assessment, but didn't complete a CGT on UK property return as I'd made a loss. However, I've received a letter from HMRC saying I need to fill in a CGT property return on they'll make a determination for tax they thinks is owed. They presume I made a profit. How do I let HMRC know that I made a loss and no tax is due? I've heard that letters take months to be processed. I also couldn't fill in a property CGT form if I tried, as it's impossible if you've already submitted your self assessment for that year. I'm worried I'll be sent a determination in error without the ability to communicate the details to HMRC. Many thanks for your help.
Posted Mon, 13 May 2024 11:19:01 GMT by HMRC Admin 10 Response
Hi
You will need to reply to the letter you received to avoid any determination. A specialist team will have issued this and their address is on the front of the letter to ensure it is not linked in with other general HMRC post for a speedy reply.

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