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CGT 30 day rule propert sold at a loss

property sold at a loss - do I still need to file a 30 day return

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My client inherited a property in 2017, we've filed a CG34 with an estimated value.  property market has remained flat in the intervening years.

Client has now sold property and once estate agents fee's etc are taken into account there will be a loss of approx £3,000 (compared to the CG34 valuation)

Does my client need to file a 30 day CGT return, given that there is a loss to report?

Client is on Self Assessment so the loss will be reported on his tax retun in April 2022


Thanks for your help

Replies (8)

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By lionofludesch
05th May 2021 13:24

I vote no.

There's no tax due.

Thanks (2)
By Paul Crowley
05th May 2021 13:29

No more replies needed

Thanks (1)
By Wanderer
05th May 2021 13:57


It depends.

Thanks (1)
Replying to Wanderer:
By carnmores
05th May 2021 14:33

On residence presumably?

Thanks (1)
Replying to carnmores:
By Wanderer
05th May 2021 14:35


Thanks (1)
By Martin B
05th May 2021 14:51

No, unless your client is non-resident.

Thanks (1)
By [email protected]
05th May 2021 16:21

Client is UK resident
Property is also in the UK

It makes no sense to me to go through the rigmarole of registering a CT account and agent account etc etc etc to report a loss he can’t do anything with.
Still when did Tax and common sense align!

Thanks (0)
Replying to [email protected]:
By Software Seeker
05th May 2021 16:29

If client is UK resident and property is UK based then no need to report if no tax to pay. Different if client is not resident, in which case a report is required...whatever the gain.

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