HMRC’s One to Many letter – Capital Gains Residential

22 Nov 2021

HMRC’s Wealthy External Forum has issued a briefing to forum members about ‘one to many’ letters being sent to taxpayers in cases where HMRC have identified potential errors regarding the declaration of residential property disposals for Capital Gains Tax (CGT) purposes.  This has been caused potentially by the declarations being made in the wrong box on SA returns leading to the application of an incorrect (lower) rate of CGT.

The letter requests that taxpayers review the property disposals on their 2019/20 SA return and self-correct any errors identified before 31/01/22. A copy of the letter will be sent to the taxpayer’s agent where the taxpayer is represented by an agent.

Letter to taxpayer
Letter to agent