Griffles

I've read that making pension payments in the same year as the sale of a property can reduce the amount of CGT due, and I just want to check this is correct. Let's say I have an income of £50,270 in the 2024/25 tax year. I sell a property and calculate that I have a £20,000 capital gain. As I'm a higher rate taxpayer, I would need to pay CGT at 24%. If I make a pension contribution (relief at source) of £20,000 in the same tax year, does that mean I would pay CGT at 18%? From what I've read, pension contributions extend the basic rate tax band, so in the above example, the basic rate would increase by £20,000, therefore impacting the amount of CGT due - have I understood this correctly? A final question about this, if I enter the pension contribution into my self-assessment tax return, will the CGT due be adjusted accordingly, or would I need to contact HMRC separately about this?

I have just sold a leasehold property and am calculating the CGT on the gain. The property has a long lease of more than 50 years, and the lease is being assigned - it is not a grant of a new lease. Am I correct that this means that CGT should be calculated in the normal way, and no special rules apply to the calculation?

My wife and I have recently sold a rental property (so not our main residence) and there has been a capital gain. My questions are: 1) I originally bought the property, but later gifted 50% of the ownership to my wife. As this was a gift between spouses, no CGT was due. As we've now sold the property, I want to confirm the purchase price my wife should use for reporting CGT should be the price I originally paid for the property, and not the value of the property when I gifted half to her. 2) As my wife and I own the property 50/50, should we each report for CGT half the purchase price, cost of selling, cost of buying, cost of improvements, sale price - that is, we split all the costs and prices equally? 3) My wife and I are both self-employed and don't know how much we will earn in the current tax year, as our income varies month-by-month. For reportung CGT, we can make estimates, but they are likely to be wrong. We will complete self-assessment tax returns later which will have the correct amounts. If we underpay CGT initially on account, will we be charged interest on the balance?