Report CGT on holiday let


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A client has sold her furnished holiday let very recently.

Does this need to be reported within 60 days or can it just go on her 2022/23 TR - on reading HMRC it says "residential" but a holiday let is a trade, so am unsure if its needs reporting.

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paddle steamer
01st Nov 2022 13:39

Is it UK? If so needs reported subject to thresholds.

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Replying to DJKL:
01st Nov 2022 13:44

Yes it's the UK and the gain is over the annual allowance.

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By More unearned luck
01st Nov 2022 14:51

1. The letting of holiday accommodation isn't a trade of the landlord (it would be for any letting agents). For the landlord it is a pseudo-trade, made less trade like since the denial of side-ways and backwards loss relief.
2. Even if the letting was a trade the property itself remains a residential property.

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By lionofludesch
01st Nov 2022 15:56

I vote yes.

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By richard thomas
01st Nov 2022 17:47

The only basis on which the gain would not be reportable is if the building "is used as a hotel or inn or *similar establishment*" (para 5(3)(g) Sch 1B TCGA). This emphasised term probably covers a B&B, but not anything that is self-catering.

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