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Capital Gains Tax – Individuals (part 5)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Capital Gains Tax – Individuals (part 5)

  • This topic has 4 replies, 3 voices, and was last updated 1 year ago by JillyB.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • November 8, 2023 at 12:46 pm #694546
    chloemccabe
    Participant
    • Topics: 14
    • Replies: 8
    • ☆

    Hi,

    In the lecture in mentions a POA and return needing to be done for residential properties within 30 days.

    However, HMRC states 60 days for selling a property,
    https://www.gov.uk/tax-sell-property

    Is the lecture referring to if its a persons main residence and has lived rather than a business/inherited asset.

    If not what’s the difference please?

    Thanks,
    Chloe

    November 9, 2023 at 10:23 am #694577
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    The rule was 30 days and has been increased to 60 days.
    It applies to ANY residencial property where tax is due on a gain

    November 18, 2023 at 8:40 pm #695080
    chloemccabe
    Participant
    • Topics: 14
    • Replies: 8
    • ☆

    Do I need to use 60 days in the exam for December then? 🙂

    November 19, 2023 at 7:38 pm #695122
    zzhzzcc01
    Participant
    • Topics: 1
    • Replies: 3
    • ☆

    I think so. I will use 60 days.

    November 21, 2023 at 12:55 pm #695198
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    yes use 60

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    Posts
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