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Where Taxpayers and Advisers Meet

Report sale of property to HMRC

Yiannis17
Posts:133
Joined:Wed Aug 06, 2008 3:43 pm
Report sale of property to HMRC

Postby Yiannis17 » Fri Mar 05, 2021 11:04 am

Morning

I have a situation where someone has sold a property that they both lived in and also rented out. There is no gain tax because of capital costs incurred and also exempt portion when they lived in the property. I know that non residents still need to report within 30 days of a disposal even if there is no tax to pay. Would that be the same with a UK resident individual?

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Report sale of property to HMRC

Postby maths » Fri Mar 05, 2021 1:33 pm

If no CGT arises on the disposal then there is no need to make a return.


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