For UK residential property disposals made from 6 April 2020, UK residents have 30 days after the property’s completion date to report and pay Capital Gains Tax on the disposals.
HMRC have stated that, due to the coronavirus, UK residents will not get a late filing penalty for any transactions completed on or after 6 April 2020 to 1 July 2020 and reported up to 31 July 2020. To read the full guidance from the gov.uk website, please click here.
Online Course – Inheritance Tax and Capital Gains Tax
Our course will provide an introduction to the UK tax regime for our two main capital taxes identifying when the taxes arise and who they apply to and providing an update and refresher on the main developments over the last twelve months.