16:11 PM, 11th June 2020, About A year ago 3
I seem to be caught between two systems. I sold a property in February 2020 and made a small loss. I sold another in May 2020 and made a gain which is not completely cancelled out by the previous loss plus my allowance.
I need to pay some CGT but with the recent change in reporting and payment requirements, I cannot work out how!
The HMRC CGT calculator asks “In the 2020/21 tax year, what was your income?” but as we are not at the end of 20/21 tax year yet, how can I possibly know? This very much depends on whether tenants pay all their rent (difficult to predict even in non Covid times) and whether I have any void periods.
I have phoned HMRC and someone should phone me back by June 16th……..but given the run around of departments I was given this morning, I am not hopeful that the call will come from someone who knows the answer.
I thought I read somewhere that the requirement to pay within 31 days had been extended but cannot now find that info.
I am really hoping that someone on here might know the answers to this.
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