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Posted Mon, 03 Jul 2023 08:15:45 GMT by
I have recently sold a property that was mainly a rental for the past 9 years. This is unrelated to my main business. I want to submit the necessary details and pay the capital gains tax (but I do not want to complete a full self assessment of income for my last tax year because this will affect my next mortgage). Question 1 - How and where can I submit only the required info about this property sale? I tried here online: https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-sold-a-property-in-the-uk-on-or-after-6-april-2020 ...but was met with the response: 'You’ve tried to sign in as an organisation Trusts are the only organisations that can use this service to report Capital Gains Tax on UK property. You have told us you are not a trust so you’ll need to file a Company Tax Return to report any taxable gains on UK property.' Question 2 - Are solicitors fees for organising the lease extension of that property deductable costs? The lease went from 60 to 999 years. Question 3 - Does HMRC automatically calculate my capital gains due based on my last submitted self-assessment income, or will I need to enter an estimate of my current year's income? (I know either way I will be a basic rate tax payer). thank you
Posted Fri, 07 Jul 2023 10:43:07 GMT by HMRC Admin 20 Response
Hi R0321 H@,

In answer to you questions

1. You are in the correct section but you will need to register a new government gateway account as an individual.   
2. The lease extension would probably already be claimed as part of the rental and if not a condition of the sale, is not deductable when working out any capital gain  
3. No, you need to work it out yourself and use an estimate for the current year income.    
Please note however, as you already complete a tax return, you still need to declare the gain in your tax return and the section that it has already been reported/paid

Thank you.
Posted Fri, 07 Jul 2023 12:54:27 GMT by
Thank you. To clarify point 1 - I will need to set up a new government gateway account additional to the one I have for my sole trader business (that is what directed me to the response listed in the original post).
Posted Thu, 13 Jul 2023 13:47:43 GMT by HMRC Admin 8 Response
Hi,
A personal government gateway user ID and password, will be needed to create a capital gains account for an individual:
HMRC services: sign in or register
With a personal Government gateway id and password, you can create a capital gains account for an individual at:
Report and pay your Capital Gains Tax
Thank you.

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