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Posted Wed, 07 Aug 2024 14:52:22 GMT by Mark Bloxham
Good afternoon, could you please help.. October 2023 I sold my rental property. This was a property that I used to live in. I kept the property and rented it out when I bought another property. I completed all as required for capital gains on this sale and paid CGT owed in November 2023. I am trying to complete self assessment 23/24 and really confused where to add figures. I trust that I tick Residential Property (and carried interest)?? I have only made this 1 capital gain disposal during 23/24. The wording of the questions asked on self assessment do not match the wording on Gov.uk document I received (Capital Gains Tax to pay for the 2023 to 2024 tax year) in November regarding how HMRC worked out my Capital gain. I know, price of property when sold (is this the Disposal proceeds Box)? I know, Allowable Costs. Deducting provided the gain... Do I put this into a box or does system action. Where do I put the Relief I received (Principal Private Residence Relief) Trust £6,000 Annual Exempt Amount will be taken off by the system This provides my taxable gain - which box do I put this in? By using tax bands provided the amount Tax to pay... which I paid in November 23. In which box do I place this amount that i was required to pay and paid? I have all the information, but honestly am finding difficult where to place into self assessment. Could you please advise. Many thanks
Posted Tue, 20 Aug 2024 10:44:20 GMT by HMRC Admin 19 Response
Hi,

You do not show the Private Residence Relief figure anywhere, but take it away from the final gains in the year figure. You then need to state that you are making an election and select the appropriate one from the drop down box.

The annual allowance is given automatically in the calulation and should not be entered or claimed in your figures.

Thank you.

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