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Where Taxpayers and Advisers Meet

Paying CGT in instalments. Hardship.

sark taxman
Posts:4
Joined:Wed Dec 18, 2013 6:24 pm
Paying CGT in instalments. Hardship.

Postby sark taxman » Mon Aug 26, 2024 2:21 pm

Land is being sold to a builder with 20% being received now and the balance in 5 years’ time.

The balance is supported by a bank guarantee.

Can the hardship rules be invoked to pay the tax in instalments?

pawncob
Posts:5176
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Paying CGT in instalments. Hardship.

Postby pawncob » Mon Aug 26, 2024 7:31 pm

https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg14850
With a pinch of salt take what I say, but don't exceed your RDA


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