From 6 April 2020, anyone selling a residential property will be required to settle any Capital Gains Tax (CGT) charges within a new 30-day payment deadline. Taxpayers will no longer be able to pay any tax charges as part of self-assessment.
Somewhat ironically, the tax payment date for a property sold between now and April 2020, may well be later than for a property sold later in 2020!
We understand that selling a property can be fraught and complex, already involving estate agents and solicitors, who are unable to offer detailed CGT advice.
Our Private Client Team have the knowledge with regard to reliefs or exemptions that you might be eligible for which could reduce the liability owed or timing of CGT payments. To discuss please contact our Private Client Team on 01788 539000.