CGT query re Form 11E

M

meular

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I sold a house in May 2009 and understand that the CGT is payable by 31st October 2009 since the disposal is prior to 30 September 2009. Section L of the Form 11E which relates to Capital Gains is headed for the year 1 January 2008 to 31 December 2008 so I am confused and wonder if this is the right place to complete my CGT return (I am completing the Form 11E in relation to previous rental income on this property). If this is the return I submit for CGT, do I just enter the chargeable gain figure at point 807, personal exemption at 811 and then net chargeable gain figure at 812? Many Thanks
 
For 2009 and subsequent years the tax year is divided into a revised set of two periods for CGT payment purposes, as follows:
  • 'initial period' - 1 January to 30 November, both inclusive.
  • 'later period' - 1 December - 31 December, both inclusive.
The due dates for payment of CGT are now as follows:
  • Disposals in the initial period: Tax due by 15 December in the same tax year.
  • Disposals in the later period: Tax due by 31 January in the following tax year
 
If the disposal was in 2009, then you don't need to enter any details re the CGT on the Form 11E for 2008 - the details will go on your Form 11E for 2009 which must be filed before 31-Oct-2010

THE ACTUAL CAPITAL GAINS TAX MUST BE PAID BEFORE 15-DEC-09 THOUGH
 
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