Client is a historical R40 repayment claims case.
But for 2016/17 his tax position is:
Income tax refund due £500 minus CGT due £100 = £400 net income tax refund.
So, does the 5.4.21 deadline apply or the 31.1.18 deadline.
By the way, I have good reason for asking what, on the surface, looks like an silly question.
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By the way, I have good reason for asking what, on the surface, looks like an silly question.
Do tell!
The notes for R40 do say "You must complete a Self Assessment tax return if you have Capital Gains Tax to
pay, even if overall you’re due a repayment of tax for the year".
The alternative would be to use HMRC's real time capital gains tax service to report the gain, but the deadline for that is still 31st January 2018.
What you have also missed is HMRC's promise in "Your Charter" to help keep compliance costs to a minimum. I would send a CGT comp with the R40 and quote the charter in the covering letter (doing this way will also save HMRC money). Contrast Gainsborough's quote with 'non-complex' estates with tax to pay, where HMRC are quite happy to accept a letter and a cheque for up to £10K.