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Capital Gains Tax and 30 days to file and pay
20-Aug-2020
Under a new regime, which applies to residential property transactions disposed of on or after 6 April 2020, you now have just 30 days to calculate your capital gain, file a residential property return and pay any capital gains tax due.
Because there are so many factors that can affect the amount of capital gains tax due, we would strongly recommend that you seek advice as to whether it would be beneficial to file a tax return for the tax year in which you make the sale – otherwise you could be paying a lot more in tax than you should.
If you need any advice regarding calculating the tax due and filing any returns, please telephone 01983 523361. Your initial consultation is free.
