CGT due on agricultural land sale 2022/23?

My mother sold a piece of inherited agricultural land at the beginning of the 2022/23 tax year, under the impression that she would put the details in her Short Tax Return and receive a CGT invoice. We are not sure where on the tax return the figures should be filled in, or whether we need a different form altogether. Once we have that information, are we correct that the first £12,300 is tax free, and that we can also deduct solicitors and land agent fees?Once the original value of the property when it came to her is also deducted, what percentage of the remaining value is then due to HMRC? Many thanks for your help.

Hi,

The supplementary page SA108, needs to be downloaded and the capital gains declared on it and submitted with the short tax return.

Self Assessment: Capital gains summary (SA108)

You can deduct acquisition and disposal costs and fees from the disposal value. If the annual exempt allowance has not already been utilised, then £12300 can be deducted. The remainder is taxable at the lower rate of 10%, the upper rate of 20% or a combination of both. Self Assessment will work this out.

Thank you.