Capital Gains Tax: Are You One Of The Estimated 26,500?
Have you paid on your property gains?
Posted by Helen Beaumont on 31/08/2022 @ 8:00AM
Many taxpayers with gains to declare from UK residential property have failed to report and pay the capital gains tax on time for the 2021/22 tax year ...
If you'd like to discover more about capital gains tax on property gains, it may be a great idea to give me a call!
HMRC say that according to their own figures, at least 20% of taxpayers with gains to declare failed to report and pay the Capital Gains Tax they owe for 2021/22.
The Capital Gains Tax 30-day reporting and payment system for UK residential property started on the 6th of April 2020, in the middle of the COVID-19 pandemic, with little fanfare from HMRC!
The filing period was doubled to 60-days and late filing penalties for missing the 30-day deadline were waived for the first three months, however, from the 27th of October 2021, the number of taxpayers who missed the deadline started to grow.
Until next time ...
HELEN BEAUMONT
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more about capital gains tax on property gains, it may be a great idea to give me a call on 01908 774323 and let's see how I can help you.
Helen brings the personal tax planning experience of the top 20 tax companies to Essendon. Formerly of MacIntyre Hudson (with 45 offices nationwide), Helen worked at Chancery for more than 10 years before joining Essendon as the personal tax specialist.
Tax Planning can make a considerable difference to your tax liability. Helen has specialist knowledge and experience in tax planning and uses every opportunity to minimise your tax bill is utilised. By analysing your investments, income, profit and expenditures, Helen will provide strategic tax planning expertise that could offer significant savings, whilst delivering clear, honest advice and guidance.
When Helen is not at Essendon she spends time with her young son and likes going on long walks with the family dog.
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