Selling a rental property? Tax now due within 30 days!
Here’s a few general tax updates for the new tax year starting 6 April 2020.
Selling a rental property in the near future?
If so please keep in mind that if exchange of contracts take place from 6 April 2020 onwards then a standalone online Capital Gains Tax Return must be completed and any tax paid within 30 days of completion. If you’re planning on selling a property – please let us know.
Capital Gains on Crypto-assets
HMRC continues to update its policy papers on the tax treatment of crypto assets. The latest versions of their guidance for individuals and for businesses can both be found at https://www.gov.uk/government/publications/tax-on-cryptoassets
This year’s Budget Day set for 11 March is much later than usual. Unfortunately this may delay some of our usual forward tax planning advice for the coming tax year.