• B M Howarth

Temporary Penalty Suspension For Late Capital Gains Tax Returns  

HMRC have confirmed sellers of UK residential property, where a Capital Gains Tax Return is required within 30 days of completion, will not receive a late filing penalty for any transactions completed on or after 6th April 2020 to 1st July 2020 which are due to be reported up to 31st July 2020.


Transactions completed from 1st July 2020 will receive a late filing penalty if they are not reported within 30 calendar days


Interest, however, will be charged if the tax remains unpaid after 30 days for all transactions from 6th April 2020.

11 views

Recent Posts

See All

Retention Scheme and Payroll Support

The Coronavirus Job Retention Scheme is a government grant to reimburse employers for 80% of furloughed workers net wage to a maximum of £2,500 per month + Employers NI and Pension Contributions.  To

VAT

Payment Deferral Ends 30 June 2020 If you cancelled your VAT Direct Debit you will now need to set this up again to ensure you do not miss the payment deadlines. What to do: Log in to the HMRC website

West House 

King Cross Road, Halifax, HX1 1EB

halifax@bm-howarth.co.uk

Tel: 01422 352517

Townend House 

Springwell Court, Leeds, LS12 1AL

leeds@bm-howarth.co.uk

Tel: 0113 235 0066

Metic House

Ripley Drive, Wakefield, WF6 1QT

wakefield@bm-howarth.co.uk

Tel: 01924 866020

ICAEW Firm No. C001073199