edward Verrall

Where on the self assessment form [?] do you indicate that the CGT has been reported a paid?

I have completed a CGT on a property form and made payment [nil £ oustanding] I am completing my self-assessment form - do I need to include the information again in the CGT section?

I submitted a CGT on a property form and paid monies due [payment cleared 03/05/24]. Completed self-assessment return for 2023/2024 and included section on CGT. Total monies owed included amount owing for CGT. How does the CGT payment become off-set against monies due for self assessment which currently includes amount due for CGT [already paid], or do I amend the self-assessment form to exclude the CGT section?

Property Inherited by two people. Scenario 1: Person A acting as joint Executor/beneficiary arranges extension of lease of the inherited leasehold property. The extended lease has the name of the deceased owner tranferred to Person A as an "executor of the estate" and not the owner of the property, to enable the property to be sold. What date has to be inserted on the form to answer this question? Scenario 2: Person B acting as joint Executor/beneficiary is not involved in arranging the extension of the lease and is not named on the new lease as an "executor of the estate". What date has to be inserted on the form to answer this question?

The guidance link provided above only refers to deductable acquisition and disposal costs. It does not address my original question. For example, if I acquired a shed through inheritance valued at £500k [zero acquisition costs] then sold it for £511k [£1k disposal costs], the difference would be £10K subject to CGT. CGT due at 18% = £1.8k; balance £8.2K gain post tax. However, between acquiring and disposing of the shed, I incurred costs of £9k [Service Charges; Utility bills; boiler maintenance insurance; council tax etc]. If following your answer above the CGT due at 18% = £1.8k plus £9k incidental costs result in a LOSS of £0.8k. Suirely, that is not correct?

Can costs incurred in maintaining inherited property between IHT/probate and sale of property be deducted from CGT liabilites: Service Charges; Utility bills; boiler maintenance insurance; council tax etc