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Capital Gains Tax is Changing

Posted by Shaun Crozier on 29th July 2019 in Blogging | Capital Gains Tax,CGT,Saving Tax

From April 2020 a number of changes are being introduced to Capital Gains Tax. The changes, impacting the owners of residential property, centre on reductions in tax reliefs and changes to how Capital Gains Tax is collected by HMRC. We look into one of the changes below. Payment of your Capital Gains Tax liability HMRC will begin collecting any Capital Gains Tax (CGT) you owe from the sale of a residential property with 30 days of the sale. The changes, which come into force in April 2020, will see the CGT payment deadline brought in line with the deadline which is already in place for non UK residents. Under the current rules, taxpayers may have up to 21 mo...