Our Senior Tax Manager, Lucy Orrow, published two video updates in May 2020 looking at Capital Gains Tax (CGT) reporting and changes to Principal Property Residence Relief (PPR) which is available on the sale of your home. These videos are still available to view here: UK Residential Property Taxes – Changes from 6 April 2020
Lucy has taken the time to record a further update looking back at the changes that were announced and looking forward to what we know now as we get to grips with the online Capital Gains Tax Reporting Tool. You can watch this update by clicking the link below:
Part 3: Online Capital Gains Tax Reporting Tool – July 2021 Update
Following the Autumn Spending Review in October 2021, the Government announced that the reporting and tax payment deadlines have been extended to 60 days from 30 days. This has arisen because of pressure from advisers and professional bodies so it is a welcome change.
If you have any questions regarding this subject, you can contact Lucy at our Braintree office on 01376 326266 or email your enquiry to lucy.orrow@lambert-chapman.co.uk.
Disclaimer
The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.