HMRC urge people to prepare for CGT payment change

2020-04-01T19:40:32+01:00April 12th, 2020|Categories: Blog, HMRC, Taxation|Tags: , , , , |

Property owners are being urged to get ready for changes to the deadline of capital gains tax (CGT) payments. Broadly, from 6 April 2020, a UK resident who sells a residential property in the UK will have 30 days to tell HMRC and pay any CGT Tax owed. HMRC are currently developing a new online service to allow taxpayers to report and pay any CGT owed. A CGT report and accompanying payment of tax may be required where the taxpayer sells or otherwise dispose of: - a property that they have not used as their main home; - a holiday [...]