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Tax Changes
There are further tax changes as of 6 April 2020.
Landlords beware if you are selling in the New Year …
Individuals, trustees and personal representatives (accountants) or anyone making a capital gain from the sale or other disposal of a property will have to make a “residential property return” and payment on account of any capital gains tax within 30 days of the completion of the disposal.
The tax changes are, predominantly, aimed at second homes or rental properties, so do not apply where the disposal is a main residence.
Like everything with HMRC, penalties and interest will be added if the dates are missed.
Full information on tax implications can be found on the Government website
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