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2020/21 30-Day CGT Return Not Done - Put on SATR?

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Hi all,

Has anyone had any experience of a client not filing a 30-day UK Residential Property CGT Return back when they should have at some point in the 2020/21 tax year.?

I'm now looking to complete their Tax Return and would like to understand whether the 30-day Return is still needed, or whether the matter can just be finalised via the Tax Return submission with penalties then flowing?

 

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Scooby
By gainsborough
20th Aug 2021 09:20

You still need to file the 30-day return in order to pay the CGT that should have been paid within 30 days of completion.

You've also got the 30 days late/6months late/12 months late penalties to consider. If you've still got time to beat one of those, get the return in ASAP.

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By ireallyshouldknowthisbut
20th Aug 2021 10:55

I cant tell you two things:

1. if you file a 30 Day report and pay now you will get fined automatically.

2. if you don't file one now, and just put it on the return then it will require HMRC to work out you should have filed one, and come after you for it.

We don't know of course if HMRC will be doing (2) or not, but if its past 12 months then I dont see what you have to gain by doing (1).

Your client will be paying the right amount of tax - that is the main thing. That is your main role, not playing paperwork games with HMRC.

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Scooby
By gainsborough
20th Aug 2021 11:52

It will be fairly easy for HMRC to pick up that a 30-day report hasn't been filed as box 9 on page CG1 would have to be left blank.

Interest will be running from the original 30 day due date after completion (as no reasonable estimates have been used) and the CGT return is a requirement under FA2019 Schedule 2 rather than just a paperwork game. The exceptions being those previously mentioned on other threads: No CGT to pay or the gain is declared on a SATR that has been submitted before the due date of the 30-day report.

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