CGT on Sale of Furnished Holiday Let when Self Assessment Forms for April 2023-24 are closed

Hi, I sold a Furnished Holiday Let on the 18th January 2024. I believe I can use the online Self Assessment Form to claim Business Asset Disposal Relief and pay the Capital Gains Tax. However at the moment the Self Assessment form for the tax year upto April 2024 is not open. Do you know when it will open? And is there an issue if this is more than 60 days after the 18th January 2024?

Hi AMC2024*,
The 23/24 tax return will not be available until 06/04/24.
In order to claim the business asset disposal rleief, it is classed as a non residential property to pay the reduced rate of capital gains tax and the property disposal form does not allow this as its for resdiential propertty only. You would therefore need to report the disposal to meet the 60 day deadline and then complete the tax return in order to claim the business asset disposal for the reduced bill.
Thank you.

Many thanks for your reply. How/Where do I report the disposal to meet the 60 day deadline? And I presume the Self Assessment tax return will open on the 6th April 2024 (based on recent articles I have read).

thank you for clarification of my question- just need a bit more information.

Hi AMC2024

Please refer to Report and pay your Capital Gains Tax

Thank you

Thank you for your reply. I had already been through this help information. They all appear to be sending you to reporting using the online form - that is only for residential property, and not applicable for the disposal of a Furnished Holiday Let. I phoned your Self Assessment Team - but there wasn't anyone available who can help - but I may get a return call. Can you provide me with a link to the method that I should report the disposal? thanks

Hi,

You would be required to declare the gain on the real time capital gains service to claim Business Assets Disposal Relief or in a Self Assessment tax return. You can see guidance here: 

Report and pay your Capital Gains Tax

Thank you.