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Does a return still need to be filed?

CGT 30 day return

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Just preparing a 2021 tax return and client has a capital gain which was not disclosed via a 30 day CGT return, it will of course be included in the tax return but given the amount of delay is a CGT return still necessary?

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By ireallyshouldknowthisbut
14th Sep 2021 15:21

Well if you do one, you will certainly get your client an auto penalty and have to try to appeal it.

if you dont file, it means HMRC have to actively come after you for any penalty.

My experience with non-resident landlords for whom this shambles has been in place for a while was if you didn't file, no penalty showed up.

My guess based on past experience is they will wake up to this in about 4 or 5 years, issues a slew of backdated penalties, many of which are appealed, clog up the tribunals, cases go against HMR and they then end up waiving the lot and refunding all the fines.

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By SteveHa
15th Sep 2021 10:23

Whilst ireally has given a real life experience, I thought that the consensus (from a different thread that now I can't find because, y'know, crappy forum) was that, unless the disposal and the SATR were within 30 days of each other, so a disposal between 7 March and 5 April inclusive, and SATR filed within 30 days of that disposal, then the 30 day Return is also required, and is probably late.

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Replying to SteveHa:
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By Tax Dragon
15th Sep 2021 10:39

I've seen it discussed many times too.

https://www.accountingweb.co.uk/any-answers/202021-30-day-cgt-return-not... is one such. (More in depth suches are available.)

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Replying to Tax Dragon:
By SteveHa
15th Sep 2021 16:23

I'm sure that there was another that looked into more detail, but finding stuff on this [***] show of a forum after it's gone is nigh on impossible.

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