Residential Property Capital Gains Tax
Here is a quick reminder on reporting the sale of residential property…
Whoever said that tax was simple! You now need to report the sale of residential property and any capital gain arising to HM Revenue & Customs within 30 days of the sale, you will also need to make payment of any tax due at that time.
Failure to do so will result in penalties. Any disposal will also have to be reported on your annual self-assessment tax return.
If you have any questions or require assistance, please contact our tax team for help.
For Government Guidance, please see: https://www.tax.service.gov.uk/capital-gains-tax-uk-property/start/report-pay-capital-gains-tax-uk-property?_ga=2.50191014.1694132046.1592894975-145647175.1577696670
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