CGT Property Return required?

...under the following circumstances

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My client sold a UK property in mid-February 2024, and we submitted the 2023/24 Tax Return, including the CGT pages reporting the sale and the gain, well within 60 days (the 6th or 7th of April).

I think it was on this website that I read somewhere that under circumstance such as the above, there's no requirement to submit a UK Property Return as well.  Just checking: is this correct?

Replies (9)

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By David Ex
21st Apr 2024 21:44

I vote yes.

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By FactChecker
21st Apr 2024 22:01

It's not just the 60 days for submitting the form that's at stake, but also when payment is due.

Those lovely people at LITRG have an excellent start for you at https://www.litrg.org.uk/savings-property/capital-gains-tax/capital-gain...

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By songb1rd
21st Apr 2024 22:17

Thank you, FactChecker!

I wonder, is there anything on the HMRC website along these lines?

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Replying to songb1rd:
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By FactChecker
21st Apr 2024 23:39

Indirectly, via the HMRC Customer Forum, yes: https://community.hmrc.gov.uk/customerforums/cgt/e93b64d4-ecda-ee11-a81c...

... but if you really want 'proof' you need to go back to the source (legislation).

GOV.UK is neither guaranteed to be accurate nor up-to-date, and is often so simplified as to be misleading, so is best used as a primer/reminder but not a reliable bible.

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Replying to FactChecker:
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By Tax Dragon
24th Apr 2024 20:04

That community extract is depressing. What's the point of it if they're posting replies without knowing what they're talking about?

The rule the querist (who on my reading was more aware of the rules than the respondent) was asking about is in Para 5(2) Sch 2 FA 2019. We've had situations where that rule has been relevant. Of course they're the minority, but you mustn't simply ignore it.

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Replying to Tax Dragon:
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By FactChecker
24th Apr 2024 20:42

Sorry to be depressing ... I thought you might find it more of an amuse-bouche (in my sardonic world where HMRC has become synonymous for 'couldn't-really-care' incompetence).

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Replying to FactChecker:
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By Tax Dragon
24th Apr 2024 21:09

I don't believe in shooting messengers. It's 2024.

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By ireallyshouldknowthisbut
22nd Apr 2024 09:18

No need to file.

Moroever if you have already filed 23/24 you cant even file the 60 day report and pay in any circumstances even if you were posting this in August.

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Replying to ireallyshouldknowthisbut:
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By More unearned luck
25th Apr 2024 13:43

"Moroever if you have already filed 23/24 you cant even file the 60 day report and pay in any circumstances even if you were posting this in August."

That is not correct.

HMRC's computer will, indeed, say 'no' to an electronic return, but that does not prevent the filing of a paper return. A late paper return will not prevent the £100 penalty being due (subject to any RE defence) but, depending on the CGT return filing date, may prevent the 6 & 12 month penalties becoming exigible.

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