HMRC’s One to Many Letter: Omitted Capital Gains Tax

By Technical Team on 19 Oct 2020

HMRC’s Wealthy External Forum have issued a briefing to forum members regarding a ‘One to Many letter’ in relation to CGT on disposal of a residential property that is not a primary residence. 

The campaign is to be led jointly by Wealthy and Mid-sized Business Compliance and ISBC Campaigns and Projects. Please note that the scale and timing of the exercise are still being finalised and may be subject to change. HMRC will send letters directly to individuals with a separate letter to the agent where the taxpayer is represented. There are two versions of the proposed letters: the first where individuals have filed an SA return and the second where no SA return has been filed.

 

Posted in: Technical News