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bigduckontax, Accountant
Category: Tax
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Question :This is from my

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Question for bifduckontax:This is a follow up from my previous question about the capital gains tax from the sale of the flat. I am starting a new line of questions, but the facts are as given in my last question.The question is about LR - based on what was mentioned in my first question, your response was that the occupation times are marginal, so maybe LR is not allowed. How can find this out? How do you think we should proceed? Shall we state in our tax return that we have to file one before 31/1/2017the above facts and calculate the capital gains tax, assuming that LR can be given, and then wait for HMRC's response?Many thanks
Thank you for asking for me. Yes, you would claim the relief on the supplementary CGT declaration forms SA108 which you file with your SA100 and wait and see what happens. If you do get the LR up to the full allowance most of your CGT bill will all but disappear. Never forget Benjamin Franklin's dictum that in life there are but two certainties, death and taxes! I do hope that you find my reply of use.
Customer: replied 2 years ago.
Thank you.SO, you think it is better to file the return with the LR and wait, rather than attempting to contact HMRC now and ask them about this case?
Many thanks
I would be inclined just to claim the LR and see what happens. Please be so kind as to rate me before you leave the Just Answer site.
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Customer: replied 2 years ago.
Thank you very much Keith
I am closing this line of questions and starting a new one with a couple of questions
Thank you for your support.