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CGT Property Return issues

There are two problems which have come to light, as regards the HMRC 30 Day online CGT Property Return service:

Firstly, there is a problem with submitting a CGT Return for a disposal in the 2021/22 tax year if one has already been submitted for a disposal in the 2020/21 tax year.
 
If a return is submitted in this situation, the calculation reflected on the CGT portal is likely to be incorrect.  
 
HMRC have advised that in this instance you or your client should contact the HMRC helpline and request a paper CGT Return to be completed. Their contact number is 0300 200 3300.
 
HMRC have no idea, at present, when this bug will be fixed.  
 
The second problem is when filing 2020/21 SA Return, it has become apparent that HMRC systems are not allowing any excess CGT payments, already made in accordance with the 30-day CGT Return obligation, to be offset against any 2020/21 income tax liability.
 
The Professional Bodies are taking this matter up with HMRC but if it is not rectified you may have this farcical situation where HMRC may pursue you for monies you have already paid. This can be rectified of course so this is just to keep you aware that this may happen.
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Added By: Sharon Worger on 13th May 2021 - 16:55
Number of Views: 44
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