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Paying UK Residential property CGT in year

Paying UK residential property CGT in year

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I cannot see how a client pays UK residential property in year CGT. First time I've had to do this.

Does the client simply pay through their self assessment account, i.e. reference UTR with added K, or by some more subtle method?

Hoping someone knows this one. HMRC site does not seem to make this clear.

 

 

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By Trish Baillie
09th Feb 2021 10:53

Once you have made the electronic submission to HMRC the client will get an email giving a payment reference and instructions on how to pay. If you are doing a paper submission you can get a cheque from the client for the tax and send it in with the paper form.

Thanks (1)
Scooby
By gainsborough
09th Feb 2021 10:53

See Tomazaan's very helpful step by step guide on this thread https://www.accountingweb.co.uk/any-answers/capital-gains-tax-report-and...

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By iknell
09th Feb 2021 10:59

https://www.gov.uk/capital-gains-tax/report-and-pay-capital-gains-tax Client needs to report the sales within 30 days via a government gateway. The calculation is made during the declaration (they can authorise you to do) and at the end they get a reference for payment.

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By iknell
09th Feb 2021 10:59

https://www.gov.uk/capital-gains-tax/report-and-pay-capital-gains-tax Client needs to report the sales within 30 days via a government gateway. The calculation is made during the declaration (they can authorise you to do) and at the end they get a reference for payment.

Thanks (1)
A Putey FACA
By Arthur Putey
09th Feb 2021 16:31

I have to do one for an elderly client who isn't on the interweb. HMRC guidance gives no instructions other than to request authorisation which sends him an email link which requires him to have a gateway account. I've used a webform for a non-res client bur there doesn't seem to be one I can use for a resident.

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