HMRC updates CGT manual for UK property returns

Published on: 11 January 2022

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Specialist Tax Regulatory Materials

Article summary

The Association of Taxation Technicians has reported that HM Revenue and Customs (HMRC) has updated its guidance on capital gains tax (CGT) on UK property returns, specifically adding a section on the interaction between the UK Property Reporting Service and 2020/21 self-assessment returns. This section covers the situation where a taxpayer has paid more CGT on their property return than is found on completion of the self-assessment return. It also covers the situation where a taxpayer is unable to pay CGT on their property return as the payment reference has not yet been issued but is ready to file their 2020/21 tax return.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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