The main point to know is that, if you have sold a residential property in the UK after April 2020, then you must report it and pay any tax due on the property using a ‘Capital Gains Tax on UK property’ account within 30 days of selling it. If you do not report the gains on the property within this timeframe, you may also have to pay interest and a penalty fee.
Again, for all of the above, the capital gains must be reported within 30 days of the sale.
If you fall into any of the above categories and want some support or guidance, or if you are not sure whether the above applies to you, then please do not hesitate to send me an email or give me a call.
At Octave you can expect friendly and professional customer service with simple and transparent pricing, meaning no hidden costs or nasty surprises. We are based in Southampton but work with businesses across the UK of all sizes to manage their accounts and tax.
We have over 20 years experience in the industry and we will offer you the most expert advice and guidance on what is best for you and your business, allowing you to make the most informed decisions possible.
We are more than just an Accountant, we can act as your very own Financial Director, your knowledgeable tax expert and trusted bookkeeper. At Octave we won’t use jargon or try and confuse you. We have a relaxed but professional approach and are always available if you have any questions or concerns.
If you have any questions or would like to arrange a no obligation meeting then we'd love to hear from you
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