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Posted Thu, 07 Dec 2023 13:52:57 GMT by EllieMay
Myself and my husband have just sold a second property and are in the process of paying Capital Gains tax of circa £3,000 each. This is to be paid by mid January 2024. The net sale proceeds are £150,000 with a gain of £45,000 divided equalled between us. My husband has a state pension and does not pay tax. I have a state pension and a private pension from which income tax is deducted. I am a basic rate taxpayer The Capital Gains Tax will be paid in full. Do we have to do self assessment returns?
Posted Mon, 11 Dec 2023 15:44:33 GMT by HMRC Admin 5 Response
Hi 

As neither you or your husband met the criteria for Self Assessment before selling your second property, you will not have to complete 2024 Self Assessment tax returns.                                                    
Please see Report and pay your Capital Gains Tax

Thank you

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