capital gain tax paid on residential property

capital gain tax already paid not in client's account on hmrc website. 

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a client disposed a residential property and paid the capital gain tax on it already.

From a few sources of information i found this disposal need to be on his SA. 

but i can't see the capital gain tax already paid by him in his account on hmrc website. 

so I am wondering when i submit his SA, there will be a big amount tax to pay shown on his SA account, has anyone elese experienced this and can advise? many thanks

 

Replies (6)

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By SXGuy
20th Jul 2021 14:22

It won't be on your agent account. It will be on the ASA account or business tax account of whoever submitted the cgt return.

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By Wanderer
20th Jul 2021 14:59

Linx wrote:

so I am wondering when i submit his SA, there will be a big amount tax to pay shown on his SA account, .......

Not if you complete the SA return properly.
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Replying to Wanderer:
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By SXGuy
21st Jul 2021 09:07

How would that work since the op is asking for the info before completing the SA? Unless I'm reading it wrong.

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By Duggimon
20th Jul 2021 16:07

You fill in the disposal on his tax return, along with the tax already paid on the gain.

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By knittykt
20th Sep 2021 14:51

We're just trying to fill in a tax return on HMRC for a client with a previously reported gain. The question is there to report the gain and the tax already reported but there's just a £ sign, no box to fill in, no way to actually type anything in. We also use Taxfiler and it seems straight forward on their data input, why not on HMRC?!

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Replying to knittykt:
By Paul D Utherone
20th Sep 2021 16:37

I use Taxfiler as well and have not tried to do this on HMRC, but I suspect that it will be down to the checkboxes selected in setting up the return - similar to partnership dividends for which a box does not appear unless one has answered a couple of the partnership pages somewhat counterintuitively.

EDIT: Just had a look.

In HMRC
- set up the CGT section
- tick "Residential property and carried interest"
- enter the gain calculation
- the eighth box / question reads "Tax on UK residential property gains reported on Capital Gains Tax UK Property Disposal returns already charged: (optional)"

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