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Posted Wed, 26 Jun 2024 12:51:02 GMT by Darren Sharpe
Dear HMRC, I am about to sell a BTL property and will need to pay CGT for me and my wife. We are both self employed and don’t know what our income will be for 2024/25 and haven’t filed for 2023/24 yet. In order to know what band we fall into, do we just estimate our income for 2024/25 on the CGT return and then pay the CGT amount based on this? When we come to filing the actual tax return for 2024/25 are any discrepancies then rectified when we know exactly what our income was? We have also declared a Form 17 to HMRC to split the income between myself and my wife (90% to her and 10% to me) so I assume we need to reflect the gain and the deductions in the same way? Many thanks for your help. Darren
Posted Wed, 03 Jul 2024 06:37:05 GMT by HMRC Admin 25
Hi Darren Sharpe,
You are correct for all your  questions asked. 
Thank you. 

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