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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 16571
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I'm try to work out which which relief code to put in box 20

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Hi, I'm try to work out which which relief code to put in box 20 on the SA108 form I sold a commercial property
JA: When was the property or asset sold?
Customer: February this year
JA: Anything else you want the Accountant to know before I connect you?
Customer: No, that's about it thanks

Hi. My name is Tony. I'm looking at your question now and will post my answer or ask for more information here in a short while.

What was the commercial property used for?

Customer: replied 4 days ago.
It was a high street shop with offices above that were all rented out

Thanks.

 

As the property was an investment property (as opposed to being used in a business run by you ) you aren't entitled to any reliefs other the annual CGT exemption which was £11,700 for 2018/19.

 

I hope this helps but let me know if you have any further questions.

Customer: replied 4 days ago.
So which code to I put in box 20? OTH?
Customer: replied 4 days ago.
Or nothing?

You leave it blank.

TonyTax and other Tax Specialists are ready to help you

That's assuming the shop wasn't used for your business.

Customer: replied 4 days ago.
Thank you

Thanks.