CGT paid, where to put in self assessment online

I sold a jointly owned (spouse) property in May 2024 and did an online CGT report and paid the tax. I have now earned over the £10k in savings interest so I have to do an online self assessment. Qu, Do I put the profit from my property sale on the self assessment form? and; Qu, where do I put the CGT already paid on the S.S. form. Will HMRC recalculate any underpaid CGT paid due to interest earned from sale proceeds in the same tax year 24 to 25? I want to avoid paying tax twice and having to claim it back. Regards.

Hi ,
 

Yes you now need to report it again. You need to tailor your return at section 3 to say yes to the capita gain. This then opens other boxes for you to report the disposal of a residential property and there is also a section in there to show gain already reported and paid  . Thank you .

Thank you, very helpful. I will put the all the same answers to my first CGT report except for the increase in years income. I assume there will be a box in the SS to put my income and interest from savings, will HMRC determine these are the same figures as in the CGT report and not tax me on them twice? I'm assuming HMRC will use the CGT report to increase the amount of higher rate of 28% and ask for the increased tax. For self assessment tax; Will I have an option to pay some or all as a lump sum as if my tax code is changed my income from my private pension will be too small to live on? Regards.

Hi,
On page one of three, when tailoring your tax return, please select 'yes' to the capital gains question at the bottom of the page. This will bring up more questions on capital gains.  
You would tick yes to that question relating to the assets disposed of. There is UK residential property, listed shares and securities, unlisted shares and securities and other assets and gains.  
If you have reported your gain using either the onine residential property disposal return or the realtime transaction service for other types gain, you should ensure that you include the tax paid to HMRC using theses services, so that the Self Assessment will give a credit for the tax paid in your tax calculation.  
HMRC will, if possible, include your underpayment of tax in your tax code.
Thank you.

Thank you for replies, Self assessment, CGT property. Can I ask; in the section 3 (capital gain disposal of property) of S A return.Since reporting and paying CGT on a previous private residence the interest from sale has put me over the £10K hence the need for SA. As I have to re submit a CGT report in the SA, simply; do I put my gross income in the CGT section asking for my income, or net income after any tax paid on savings and do I reduce the savings interest by the £1000 allowance? before entering income in CGT section. Thank you.

Not HMRC...you dont put any income in the CGT section, the CGT section is for the CGT calculation and tax paid on it previously only. You enter all your income from other sources in the the other boxes on the return, as an example, you enter the bank interest in the section for gross interest and any other income in the boxes for those sources. You always enter the totals, you do not reduce it by any allowances.

Hi,
No, you will have to complete each section relevant to your circumstances. For example, if you are in employment, then you select the employment section or SA102 on paper and declare your employment income and tax deducted.
 In the capital gains section, you report the disposal value, your allowable costs and the gain before losses. If you used the online service to report and pay the Capital Gains Tax, you also show the gain declared and the tax paid. This gives you a credit for the tax already paid, when calculating the actual Capital Gains Tax due.
Thank you.

Thank you, I am retired just for info. If in the CGT section of SAI have to answer all the same questions as I did in the CGT report I submitted online and, subsequently paid the tax on the property sale, the last questions were "what is your income" (needed to ascertain the amount charged on 18% and 24%) followed by "what is you personal allowance" If in the SA all the questions are the same as the CGT report then I will have to put my income which is why I asked...Do I put gross or any tax paid on savings? My tax code was changed previous year 23-24 to collect tax on undeclared interest on savings. Code has been changed again to collect tax "on account" of interest assumed in following year. Will I be paying 24% CGT on income I am not actually getting as I am receiving a smaller company pension due to tax on account. In an ideal system personal tax and CGT would all be adjusted so I am not paying an increase on CGT previously paid due to an income entered which is more than I actually receive. Many Thanks

The CGT section doesnt ask all the same questions again. It asks for gross cost, acquisition date, net proceeds and sale date. You then also enter the net gain and the tax paid in that box, thats it for CGT papges. The SA return covers all your income for the year, including pensions, interest, other sources and interest etc. You enter all details of all income in each section. You also enter the tax paid for the year via pensions, and the CGT tax, SA then calculates the position taking everything in to account. Income is not assessed twice. In summary, you enter all income from all sources and the CGT, you also enter tax paid under PAYE and via CGT, (the system will pick up anything paid under SA when it finally nets, but not on the calculation) the calculation will then work out if you owe HMRC anything or if HMRC owe you. What is in the code isnt relevant (if less was in the code you paid less under PAYE if more then more under PAYE, either way, the amount paid under PAYE is entered in SA as tax paid).

Hi old man foster,
When reporting your capital gains using the online capital gains service, on most occasions, the figures used for income are estimates.  
It is only after the tax year has ended, that actual figures can be used.  
They are declared in the self assessment tax return along with the capital gains figures.
If the income figures are different, then this may result in an increase or decrease in capital gain tax payable.  
The tax return is your final declaration of income for the tax year.  
If you have taxed interest, you declare the sum after tax is deducted.  
Self assessment will give a credit for the tax paid.  
If you have untaxed interest, you declare the gross figure.
Thank you.