Thanks MM and J.
I had spotted that on that form but when I called SA helpline to confirm the weren't really sure and wouldnt commit to saying 'no don't factor it in'. I probably didn't explain it clearly enough to them or I was talking to someone they have just drafted in to ramp up the call centre in the run up to Jan 31st deadline.
thanks
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Previously on "Self assessment payment on account and capital gains"
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Originally posted by ELBBUBKUNPS View PostThanks. Thing is based on income without factoring in captial gains I want to reduce my payments on account for 12/13, however if capital gains needs to be factored in there is no point.
http://www.hmrc.gov.uk/sa/forms/sa303.pdf
says to ignore CGT, so you should be fine.
I'd remember to not spend the CGT though!
Usual disclaimers apply, IANAA, IANAL etc.
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Originally posted by Moscow Mule View PostNot really, you're supposed to pay up what you paid last year and adjust if you're over / under in January.
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Originally posted by ELBBUBKUNPS View PostThats how payments on account work though isn't it, we are supposed to look into are crystal balls and guess our income and then modify our payments on account to reflect this guess and then claim anything back we don't owe or pay interest on what we under paid.
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Originally posted by northernladuk View PostWhy would you pay tax on something you haven't received yet and may never even come to be?
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Why would you pay tax on something you haven't received yet and may never even come to be?
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Self assessment payment on account and capital gains
Hi, do I need to factor in to my self assessment payments on account possible capital gains I might have or is it treated differently ? I have a possible large capital gains liability from a house sale but it may fall through.
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