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CGT 30-day rule - what rate?

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I have a client who is about to make a chargeable gain on a residential property (the first one since the 30-day rule came in). Given that we're only a month into a new tax year, and the client has no idea what their income will be for the rest of the year, how am I supposed to calculate the effective CGT rate to apply, and accurately calculate the CGT they need to pay? 

Thank you.

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By mikeyban
04th May 2021 21:13

It’s your best guess... anything goes as long as reasonable

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By SXGuy
05th May 2021 06:40

You don't. You use a guesstimate and then it's all re calculated on the tax return later.

Cgt reporting and the tax payable are just estimates.

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RLI
By lionofludesch
05th May 2021 10:12

Whatever you can justify is grand.

It'll all be sorted out later.

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By Tax Dragon
05th May 2021 16:58

See paras 7, 14 and 15 Sch2 FA 2019, especially para14(5)(a).

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