Question:
I sold my property this year, but have a 2018/19 tax return to do first. Can I reduce my capital gains tax bill for 2019/20 by declaring any gain for this year?
Arthur Weller replies:
If you sold a property in the current (2019/20) tax year, you cannot reduce the capital gain for 2019/20 by declaring some of the gain in the previous (2018/19) tax year. A capital gain cannot be backdated.
