Capital Gains tax. - flat

[dustypuss]

Is it necessary to send in a capital gains tax return for the sale of an asset (seaside flat owned for 6 years but never let)- when there was no profit. (taking into account refurbishment costs etc.)
Will the inland revenue expect a set of figures anyway?

Any information would be very much appreciated. Thanks.

[kags]

If the proceeds exceed �36800 (2007/08 figure) then you do need to submit a calculation to HMRC. You may have made an allowable loss which you can carry forward. Remember that it is only improvement expenduiture that is deductible, not general maintenance.