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Offset CGT paid on 30 day return against SA return

Offset CGT paid on 30 day return against SA return tax due

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A 30 day CGT return was submitted to report the sale of a property, and the CGT paid.  The SA return is now being prepared and includes the gain details.  At one stage, the work round was to submit an amended 30 day CGT return.  I assume this would lead to a refund of the CGT paid.  The refund would hopefully be made before the taxpayer has to pay the SA tax.  Is that still the system, or is there now a mechanism for offsetting the 30 day CGT paid against the SA tax?  If so, what is the system?  I double checked the software, and there does not appear to be a section where you can deduct the gain or tax already assessed/paid on the 30 days return?

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By Trethi Teg
25th Oct 2021 17:51

The information on the tax paid on account should be included on the pages where the capital gain is reported. Without knowing what software you use I can't help any further.

Good luck getting a refund from HMRC!

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Replying to Trethi Teg:
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By CarolineC
25th Oct 2021 18:10

I normally use the HMRC software, but can also use Taxfiler. The HMRC software mentions offsetting gains and tax already reported, but does not seem to have anywhere that you can put the figures in. I could 'fudge' on the HMRC software. I haven't checked Taxfiler yet, but can do now.

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By Wanderer
25th Oct 2021 18:05

Page CG 1 box 10.

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By CarolineC
25th Oct 2021 18:22

Thank you, I can see the boxes on the tax return which is as you say page CG 1 Boxes 9 and 10, but the HMRC software does not so far as I can see include anywhere on the software where you can populate those boxes. It looks as though you can include those figures on Taxfiler though. So, I can presumably file the SA return from Taxfiler showing the gains already submitted with the 30 day report.

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Replying to CarolineC:
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By SXGuy
26th Oct 2021 08:07

Unlikely you'll get much help with hmrc software as most of us won't or can't use it.

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Replying to CarolineC:
RLI
By lionofludesch
26th Oct 2021 11:44

CarolineC wrote:

Thank you, I can see the boxes on the tax return which is as you say page CG 1 Boxes 9 and 10, but the HMRC software does not so far as I can see include anywhere on the software where you can populate those boxes. It looks as though you can include those figures on Taxfiler though. So, I can presumably file the SA return from Taxfiler showing the gains already submitted with the 30 day report.

You still have time for a paper return.

Paper is looking more and more like the future as HMRC systems crumble.

Get a certificate of posting, though, and remember that the 31st is a Sunday this year.

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