Tag: property

Landlords need to be ready for changes to Capital Gains Tax for property sales

The deadlines for paying Capital Gains Tax after selling a residential property in the UK are changing from 6 April 2020. From this date UK residents selling a residential property in the UK will have 30 days to tell HMRC and pay any Capital Gains Tax owed.

Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value.

Those that don’t tell HMRC within 30 days of completion may be sent a penalty as well as having to pay interest on what they owe.

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