'Seismic' Tax Change To Hit BTL Landlords

Financial penalties due to ‘seismic’ changes to Capital Gains Tax (CGT) payment rules could heavily impact people selling buy-to-let properties. From April 6, anyone who disposes of a residential property giving rise to a capital gain on which CGT is payable will be required to make a digital return to HMRC and to pay an estimate of the CGT due within 30 days from the sale completing. People will also no longer be able to benefit from a possibly substantial sum of money remaining in their hands for up to 22 months after residential property disposal. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/landlords/seismic-tax-change-to-hit-btl-landlords.html