We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
capital gains tax
mjpac
Posts: 4 Newbie
I have been caught out by the new requirement for 2020/21 to report capital gains on residential property within 30 days of the sale, and have therefore had to pay a hefty fine on top of the charge for tax. I only recently became aware of this, and did not previously know about the change. Have others been similarly caught out? Does anyone have any information about this, such as how well the change was communicated so that the general public would be aware of this new requirement.
0
Comments
-
It's certainly been mentioned here a few times. Where do you normally get your tax news from?0
-
It isn't an issue for "the general public", since they don't typically sell non-primary-residence property. I'm mildly surprised your solicitor didn't bring it to your attention, assuming they knew the property would be CGT-liable.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.6K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards