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Posted Sat, 15 Jan 2022 16:00:02 GMT by Gillian Bradley
I sold a property mid way through tax year 2020/21 and submitted an online Capital Gains Tax return and paid the tax due as required shortly afterwards. I have now completed my SA return for 2020/21 and included details of the capital disposal on this return. I have also included details of some losses made after the disposal of my property that were not included in the online Capital Gains Tax return. The result of this is that I have overpaid Capital Gains Tax by £347.42. This is shown on my SA return calculation. The calculation shows a separate figure for the income tax I owe which is £564.80. Can you please confirm that I can I net off the overpaid Capital Gains tax against the income tax I owe? I can find nothing online from HMRC about this but have found an article from The Association of Tax Technicians which says that I can do this but it also gives a number which it says I need to ring HMRC on to inform them that I have done so. I have rung the number provided but was on hold for more than 40 minutes and nobody answered.
Posted Mon, 17 Jan 2022 15:19:34 GMT by HMRC Admin 10

You can offset this but the payment will be held in the Capital gains system and not the Self Assessment system so you would need to contact us to have this refund transferred to self assessment in order to offset this against income tax.

Self Assessment: general enquiries


Posted Mon, 17 Jan 2022 22:47:48 GMT by Gillian Bradley
Thank you for your response. Could you please let me know who I need to contact to have the refund transferred to self assessment.
Posted Tue, 18 Jan 2022 13:32:13 GMT by HMRC Admin 17

Please contact us here :

Self Assessment: general enquiries    .

Thank you.

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