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Overpayment of tax on UK Residential property

How to reclaim overpaid capital gains tax on a residential property sale on the new system

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We completed a UK Property sale return on the new CGT system for a client during the 2020/21 tax year. We have just prepared the SATR and there are additional losses to offset againt the property gain. After reading various posts/guidance notes it appeared that the easiest way to recover the overpaid CGT was to resubmit the UK Property return and claim the refund via that system. The return was duly resubmitted and the system has updated with the lesser amount of tax showing as due. However they does not appear to be any mechansim for claiming the tax refund. Has anyine else come across this yet and can advise the best way to deal with it? 

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By David Ex
04th Aug 2021 11:20

Can’t recall what the answer was but the question has been asked fairly regularly if you carry out a search.

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By JB101
04th Aug 2021 12:02

If the losses occurred after the date of the gain you should not revise the 30-day CGT report - I had to read out the relevant legislation to HMRC over the phone when they were telling me to "ask HMRC to cancel the Tax Return (I had already) filed and change the CGT return then refile the tax return".
I'm thinking of giving HMRC a bill for training their "helpline" (sic) staff!

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By gainsborough
04th Aug 2021 12:18

See Q7 on the attached if the losses were incurred before the residential disposal took place (published last month).

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By K81
04th Aug 2021 16:25

I have telephoned HMRC today concerning the same thing - CGT overpaid when sale declared in March 2021. overpayment when tax return submitted June 2021.
the Agent line transferred me to a technical advisor who told me that he could see how much CGT paid & that tax return submitted will give rise to a repayment. He said that he needs to get the CGT team to transfer the credit to SA so that it can be refunded which he will now arrange.

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