CGT due now for house sale last year.

[Pat123]

Hi
My wife and I sold an investment property last year (closing date of sale was 31/10/2008). I will be making a tax return this months for the 2008 tax year, and plan to pay the CGT on the house sale. However, a friend of mine thinks that I should have paid this CGT already, and that I may be liable to penalties.
Is this true ?

Thanks

Pat

 

[WaterSprite]

Yes - you should have paid it in January 2009 - see here for details on disposals between October 1st to Dec 31st 2008. Pay it asap and throw yourself at their mercy and they may let you off the penalties.

 

[Pat123]

Thanks. That was a stupid mistake !