Posted 23rd April 2020
The deadline for paying Capital Gains Tax (CGT) after the sale of a residential property in the UK changed on 6th April 2020. From now on, if you are a UK resident and sell a residential property in the UK you have 30 days to tell HMRC and pay any CGT that is due as a result of the sale.
Failure to notify HMRC of any CGT within 30 days of the completion date, could result in you being sent a penalty as well as having to pay interest on the amount owed.
If you are involved in the sale of a residential property it is important to be aware of these changes.