U.K. Real Estate Sellers to Face New Capital Gains Tax Rules

March 13, 2020, 4:01 PM

The U.K. government is warning that some taxpayers will soon be required to submit a capital gains tax report within 30 days of selling a residential property.

Beginning April 6, sellers who fail to file a report could face penalties and interest payments, Her Majesty’s Revenue and Customs announced Friday.

  • “People don’t usually have to pay capital gains tax if they sell the house they live in, but this is a significant change for customers who do have to pay the tax and who up to this point would include the gain in their self-assessment return,” Sarah Kelsey, deputy director ...

To read the full article log in. To learn more about a subscription click here.