Skip to main content

This is a new service – your feedback will help us to improve it.

  • CGT on Residential Property Sale and Self Assesment

    I'm confused about dates and the wording of the guidance relating to reporting a Captial Gain via self assessment when I've already reported and paid the CGT due via the Capital Gains Tax on UK property reporting facility. I sold a property at the end of July 2023 that I was letting out so incurred a CGT liability which I reported this via the Capital Gains Tax on UK property reporting facility and duly paid the CGT due. I also still need to complete my self assessment return for the tax year ending April 2023 which I have until 31/01/2024 to submit. In the question on the y/e 2023 self assessment it asks if I need to report a capital gain and I am confused if I need to say yes or no. As the disposal, CGT liability and CGT payment took place in the tax year ending 04/2024 would I say no I dont need to complete the CGT page in the 2022/2023 assessment but say yes I do need to complete it in the 2023/2024 assessment which I might potentially not complete until Jan 2025? Or do I have to say yes yes I do need to complete it as I'm completing the self assessment for y/e 2023 AFTER having sold the property and incurred the CGT liability albeit in a different tax year to the the one I'm completing the self assessment for? It seems odd to say "no I don't need to report a Capital Gain" when clearly Ive had one (and paid tax for it) even though the gain was not made in the tax year I'm completing the SA for which is why I want to make sure that its only asking me if Ive had gains in that tax year not in any year to date.