Capital Gains Tax

(asked on 3rd February 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to ensure people selling residential properties which may lead to a potential capital gains tax payment are aware of the changes to that tax which will be introduced from 6 April 2020.


Answered by
Jesse Norman Portrait
Jesse Norman
This question was answered on 6th February 2020

From 6 April 2020 anyone disposing of a UK residential property on which a chargeable gain arises, such as on a second home or a rental property, will be required to report and pay any capital gains tax due within 30 days of the completion of the sale.

HMRC recognise that this is a significant change and are starting to roll out a comprehensive communications plan, so that people understand what the changes mean for them and what they need to do.

Reticulating Splines