Sold your rental property, but don’t have all of the relevant figures to declare the capital gains?

I have sold my rental property, but I don’t have all of the relevant figures to declare the capital gains, what should I do?
If you sell a residential property and this results in a chargeable gain, you will need to declare the gain to HMRC within 60 days. HMRC has an online portal in which you can complete the return, or you can authorise an agent to complete this for you.
If you do not have the relevant information, you can make reasonable estimates and include these on your return. However, it is very important that tick the ‘estimates’ box if they have been made. If you do not tick the estimate box and additional capital gains tax is due, HMRC will charge interest, even if the estimate was not unreasonably low.
It is the landlord’s responsibility to eventually amend the estimated figures. HMRC will not send out reminders to revise the estimate.
If the estimates used on the return are found to be unreasonably low when the actual figures are submitted, HMRC will charge interest from 60 days after completion until the full CGT is paid.
Please feel free to get in contact with our BTL team at PJCO if you have any questions -
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Disclaimer:
These videos are for educational purposes only. No official financial advice is being given. Never listen to anyone online who tells you to not check with a professional!