Davidc

Hi HMRC 19 Thanks for the response. It now looks like I reported the CGT gain correctly using my Government gateway ID to create a Capital Gains Tax on UK property account and report this gain as an estate. The issue was that although I received an email confirming that HMRC had received the report, the system had not informed how to pay. After contacting HMRC on telephone number 0300 200 3300 (which was indicated as CGT general enquiries) the advisor was unable to resolve the issue and informed me that I should contact the CGT specialist team (I presume) on 0300 200 3884. Upon phoning the specialist team the advisor was able to confirm that the report had been filed correctly but was puzzled as to why there was no payment information. However, they phoned back the next day and were able to take my payment during the phone call but were still unable to work out why the system did not provide me with payment information. My problem is now therefore resolved. Thanks to those who took time to respond.

Hello I submitted the capital gain 10 days ago on 10th September but have not yet had response. I had to open a capital gains tax account in order to report the gain as I have never had to deal with CGT before but upon checking it appears that I have used my self assessment government gateway ID. The report I filed was filed as an estate. What then happens to this report as it is now superfluous? I have now tried to open a new CGT for the estate and report the gain there but have come up against a problem. When I try to set up a separate account for the estate I get to this question: Does the trust or estate have a Trust Registration Number? However when I answer no (because it is for an estate and not a trust) the next page states: You’ll need to register the trust and To use this service, you’ll need to: Register the trust (opens in new window). Sign into this service using the HMRC online username and password you used to register the trust. Any advice on how I need to proceed would be appreciated. Thanks

A few days ago I submitted an online Capital Gains Tax on UK property account return for my late Mother's estate when her house was sold at a greater amount than that reported through the IHT reporting system. I have received a response (which was probably auto-generated) which states that I should "Sign in to your Capital Gains Tax on UK property account. Check if you have any actions to complete." However when I sign in, there are no options except to start a new return or view or amend the account information. How long does it normally take HMRC to inform how much CGT there is due or do I need to periodically check for updates on the CGT on UK property account? Also contained within the email response was "If you need to file a Self Assessment tax return you’ll need to provide details from this return in your Self Assessment tax return." This has confused me as I believed that when reporting a CGT gain on a deceased's estate that there would be no need to provide details in a self assessment tax return. If there is a requirement to provide these details in a self assessment tax return does that apply to all executors and beneficiaries or just to me personally as the person filing the return and what extra tax implications are involved?

Hi Clive and thanks for the response. None of the beneficiaries are higher rate tax payers and I do not believe that any would be earning more than £25,000 p.a. gross. I have come to the conclusion that the guidance provided in the "Report and pay your Capital Gains Tax" page and in the section "If you’re reporting on behalf of someone else or an estate" is probably the best option for us and although we may end up paying some more tax, it looks like the easier route as HMRC will calculate what is owed as part of the process. Once the property is sold I'll complete all the required forms and pay what is owed and report back to this site for others to understand if this process is the correct path for them to take.

Hi Clive. Thanks for you reply. The IHT forms were returned and there was no tax to be paid and even with the increase in value of the property the estate is still well below the threshold for paying tax. The property and other belongings are being sold by the executor's as directed in the will. The funds will then be distributed to the beneficiaries and the CGT will also be paid from the estate. My only remaining concern is that I need to complete a self assessment return each year and am unsure if I need to declare this gain? I don't think any of the other beneficiaries are required to complete a self assessment return.

Thanks for the reply and clarifying the reporting process. Can you further advise if I need to report this gain as an individual tax payer through my annual self assessment tax return and if so what amount should I declare, or is the process complete once I pay the full amount through the appropriate CGT portal?

I am one of two executors, alongside my older brother, for my late mother's estate, of which we are both beneficiaries, as are another brother and a sister. The value of my mother's house has increased since it was reported to HMRC for Inheritance Tax (IHT) purposes, potentially resulting in a Capital Gains Tax (CGT) liability upon sale at the increased price. I seek clarity on the steps to follow after the sale is finalised. As per my understanding, there is a £3,000 allowance, and the ability to deduct solicitor and estate agent fees from the property's increased value, with CGT due at 18% on the net amount. The property's value gain is expected to be a maximum of £45,000 before allowable deductions. Is it necessary to report the difference between the reported value and the actual sale price to the IHT department, or should I just pay the CGT due? For completing this payment, should I simply access the HMRC page titled "Use a Capital Gains Tax on UK property account to report and pay any tax due on UK property" and follow the subsequent instructions? Additionally, as a person registered for self-assessment, is it required to report this in my next tax return, and if so, what amount should be reported considering the CGT payment is made from the estate rather than as an individual taxpayer? Could you also detail any forms that need to be completed? Thank you for any assistance provided.