Hi, New user here so would appreciate any assistance anyone may be able to give.
I sold an inherited property in 2019. When inherited in 2018 property was valued at 60k and inheritance tax was paid off this valuation. Property was sold in 2019 for 40k therefore no CGT is payable.
As there is no CGT payable do I still need to declare the sale to Revenue? If so can anyone let me know how? I am a PAYE worker and have gone on to My Account online but can’t see anywhere in the Income Tax Return section to where I might declare this.
any assistance or guidance would be greatly appreciated.
thanks
I sold an inherited property in 2019. When inherited in 2018 property was valued at 60k and inheritance tax was paid off this valuation. Property was sold in 2019 for 40k therefore no CGT is payable.
As there is no CGT payable do I still need to declare the sale to Revenue? If so can anyone let me know how? I am a PAYE worker and have gone on to My Account online but can’t see anywhere in the Income Tax Return section to where I might declare this.
any assistance or guidance would be greatly appreciated.
thanks