CGT and self assessment questions...confused!
Hi, apologies in advance for any silly questions
I am registered to fill in a self assessment tax return, for years the only section I'd fill out was from renting my property as I was working in Asia. I came back at the start of lockdown and have been renovating my house for 2 years, with no income from anything. I am now looking at filling out my 2020/2021 tax return. When I go to the website to fill it in, I clicked 'Do I need to fill out a tax return', and answer all the questions to which it says I do not need to fill one out.
But then I got an email after logging in saying :
"Our records show that you’ll need to send us your Self Assessment tax return and pay any tax you owe by 31 January 2022.
You’ll still need to submit a return even if you don’t owe any tax."
So I'm a bit confused, do I or don't I need to submit one if I didn't make any money? I just had lots of tax deductible expenses from fixing my house up.
And a second confusing matter. I bought cryptocurrency in 2018 just before the crash and lost a lot (on paper) and from terrible trades and decisions. I didnt realise every crypto trade was a taxable event, it wasn't clear back then. Now it seems I have quite substantial losses from 2018/2019. It says on the HMRC website you can claim Capital Gains Losses up to 4 years after disposing of the assets, and then use those losses to offset any future gains. So of course I'd like to do this. I'm just confused, do I do that on this years tax return? Or do I have to fill out a tax return for 2018, and if so how do you fill out a return for a past year? I had already submitted tax returns for those years, and at the time had no idea of the rules for Cryptocurrency so didnt include anything, will this be a problem?
Sorry if any of this is confusing, I'm confused!
thanks in advance