Provisional Roll-over Relief - HMRC nudge letter
HMRC have shared the following nudge letter campaign about provisional rollover relief claim up to 2017/18:
HMRC have announced that a handful of taxpayers who made provisional rollover relief claims in tax years up to and including 2017/18 will be sent letters concerning their claim. Those taxpayers selected, according to HMRC, did not submit a final rollover claim to supersede that provisional one within the relevant time limit. Taxpayers will be given 30 days to respond to this letter and provide HMRC with a claim if they have made a reinvestment of the proceeds within the relevant time limits, otherwise assessments will be raised for the deferred capital gains tax from the original disposal. Where a provisional claim for roll over relief has been made taxpayers must provide HMRC with a final roll over relief claim by the third anniversary of the 31 January following the tax year of the disposal of the original asset, otherwise the provisional claims will expire.