Capital Gains Tax refunds - how to receive a timely refund

Why does TaxCalc not provide information on Capital Gains Tax (CGT) paid?

The reporting process for real time Capital Gains is something that software developers have not been given access to by HMRC so we cannot provide a link to this information via the Tax Return Production process in TaxCalc. This is something that is likely to change with the introduction of MTD for Income Tax but we currently do not know timescales for when this will be made available to us.

How to ensure a timely refund from HMRC

For tax returns from 2021/22 onwards, any overpayment of CGT will now be offset against other self-assessment liabilities on the return (displayed on the SA302) whereas previously it wouldn't be. However, if there remains an overpaid amount of CGT following offset of other liabilities, the amount will not automatically be repaid. According to HMRC manuals ,you should call 

  to enable a repayment.

In addition, to help expedite the process, you may want to update your HMRC UK Property CGT account which would have been created when reporting and paying capital gains  throughout the tax year. To do this:

1) Before you file your self assessment return (this is important), login to your HMRC CGT account and modify it to reflect your now calculated (via TaxCalc) total gross earnings for the year.

2) HMRC then calculates the total amount of CGT that you owe (this should agree with the amount that TaxCalc has already calculated). Enter this amount in your HMRC CGT account and finish answering their questions and then logout. 

3) Now complete your self assessment, leaving the original CGT entries as they are. The SA302 will show any overpaid CGT after offsetting against other tax liabilities on the return.

4) File your self assessment