Coronavirus Job Retention Scheme - HMRC letter to agents

8 Apr 2020

The factsheet Q&As include the following question: What happens if I don‚ t tell HMRC about the Capital Gain on a UK residential property within 30 days and there is a CGT liability? The answer indicates HMRC is allowing a period of time to adjust and will not issue late filing penalties for CGT payment on account returns received late up to and including 31 July 2020. For UK residents, this means transactions completed between 6 April and 30 June 2020 and reported up to 31 July 2020. Transactions completed from 1 July 2020 onwards will receive a late filing penalty if they are not reported within 30 calendar days. Interest will accrue if the tax remains unpaid after 30 days.

Click here to download the document.