pogel17

pointed out that CGT follows beneficial ownership not legal ownership and since the property was beneficially owned by me and two other members of my family (not being my wife) in equal shares (ie one third each) which was recorded via declaration of trust, those family members have now submitHi there, Please could you help advise the best way forward. My wife and I submitted CGT returns and have paid the applicable CGT for a property disposed of in tax year 23/24. We did so on the basis of being joint legal owners so the gains and expenses were apportioned 50:50. However, it was ted CGT returns and paid the applicable CGT. My question is how should my wife and I amend the CGT position originally submitted by us which was on the basis of 50:50? I believe my submission should be amended to recorded one third rather than half of the gains and relevant expenses. Should I do this via amending the CGT form previously submitted and then record the updated position on my tax return for 23/24? Should my wife also amend her submission or is this not possible to ‘delete’ a submission? How would any repayments for CGT paid that was not due be effected? Many thanks