Rural & Residential Property Management, Property Agency
7th April 2020
Changes to CGT Payments
From 6 April 2020, all UK residents selling a residential property in the UK have 30 days to notify HMRC of the sale and pay any Capital Gains Tax owed.
If HMRC is not informed about any Capital Gains Tax liability within 30 days of completion, a penalty may be issued on top of any interest owed. It is therefore extremely important that everyone involved in the sale of a residential property in the UK fully understands these changes.