AdamS

Thank you for your help! This is a brilliant service.

Thank you very much for that. So I have gone onto my personal tax account and set up a capital gains account. On there you can only put one date for when you acquired the property so I have put the latest date (dec 2022) and then added the 2 x 25% shares up and put that as the acquisition value as of dec 22 , even though 25% was acquired in dec 2014 and the other in dec 2022. Is this ok? It gives me the correct capital gains tax calculation either way, which is the main thing I guess? Many thanks!

I inherited a 25% share of my parents house in 2014 when my mother died. I then inherited another 25% of the same house when my father died in 2022. The property has now sold this month (Mar 2024). The share acquired in 2014 has gained value but the share acquired in 2022 has made a loss ( based on IHT valuation 2022 vs actual sale price 2024). Two questions: I do not submit a tax return so how can I declare these two CGT events? Can the gain and loss be offset on the same form or declaration ( I have no interest or need to carry forward the loss for future offset). Many thanks for any advice.