Does Capital Gain need reporting on SAR

Does Capital Gain need reporting on SAR

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I have just sent in the CGT forms relating to sale of property in June 2023. The clients have still not received a reply from HMRC giving the reference number to enable them to pay the CGT. Should the clients now be paying the CGT without a reference number.

Their SAR will be filed in April, because there is tax to claim back on their PAYE income and pensions. Does the aforesaid gain need to be reported again on the SAR?

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By Ruddles
23rd Mar 2024 10:38

Yes

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By Kosher
23rd Mar 2024 11:23

Is that a yes for paying the CGT without a reference number?

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By Ruddles
23rd Mar 2024 12:02

There was only one question mark in your post ;-)

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By Kosher
23rd Mar 2024 12:17

Sorry I didn't use the question mark on other question. I've just emailed the client to see if the HMRC have sent a letter yet. I don't know why I've bothered because they've not even paid me yet.

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By mumpin
23rd Mar 2024 12:59

Get with the program Kosher!
An SAR is an entirely different thing.
The abbreviation you want would be SA100...

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By johnthegood
25th Mar 2024 06:41

mumpin wrote:

Get with the program Kosher!
An SAR is an entirely different thing.
The abbreviation you want would be SA100...

or SATR as we say, you don't want to mix up a SAR with SATR that would lead to all kinds of craziness

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By I'msorryIhaven'taclue
23rd Mar 2024 13:10

Kosher wrote:

I don't know why I've bothered because they've not even paid me yet.

Your client is obtaining what's known as added value from you. Print them an overdue statement, go to their house early Sunday morning, and drop it through their letterbox.

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By DKB-Sheffield
23rd Mar 2024 13:14

Kosher wrote:

I have just sent in the CGT forms relating to sale of property in June 2023. The clients have still not received a reply from HMRC giving the reference number to enable them to pay the CGT. Should the clients now be paying the CGT without a reference number.

Just to clarify... do you mean

1. You sent the returns in a while ago and HMRC *still* [after a significant period] haven't sent the reference...

Or...

2. You have *just* [recently] sent the returns and HMRC haven't sent the reference?

Also...

How was the return filed? Paper, or online? That may define whether your client will receive a letter at all.

In any case, I'd not be suggesting payment without a reference. But I would be trying to find out the reference (from HMRC/ Client) IF my first suggestion is correct, or if the filing was online (reference should ve pretty immediate IME).

FWIW, the rush to file an April return, with an outstanding 60-day CGT payment may be ill-advised. I'd suggest clearing up the CGT matter (including payment) before reporting the gain on the return (also including the payment made).

Clearly, you may wish to be paid up to date by the client before proceeding further.

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