2nd May 2018
From April 2020, all individuals and trustees must make payment of Capital Gains Tax (CGT) on the disposal of residential property (UK or overseas) within 30 days of completion, rather than the 31 January following the end of the tax year in which the disposal is made. Katharine Arthur from MSI's UK accounting member haysmacintyre explains further.
The new payment deadline will not apply where CGT is not due e.g. where private residence relief applies. HMRC is currently consulting on a number of technical matters, including on calculation methods, administration and the interaction with the current payment system of CGT by non-UK residents.
If you should have any questions relating to CGT, then please do not hesitate to contact Katharine Arthur, Partner and Head of Tax, Helen McVittie, or your usual haysmacintyre adviser.
We are a full service, award winning mid-tier firm of Chartered Accountants and tax advisers in central London, providing advice to entrepreneurs, fast-growing and owner-managed businesses, charities and not for profit organisations across the UK and internationally.
View firm profile
Are you embracing the #cloud? Interesting article on #cloudtechnology by our Australian member McKinley Plowman (Pe… https://t.co/TxALlP5bEq
We are delighted to continue our growth in the UAE with the admission of our new law firm member Middle East Allian… https://t.co/c2Av4aXW5i
We are delighted to announce our strategic partnership 'Global Connect' with accounting associations @DFK_Intl and… https://t.co/6cgfHCF4am