COVID-19 – CGT portal for residential property disposals

Apr 27, 2020

HMRC advises that the online service for reporting and paying capital gains tax on UK property disposals was launched on 6 April 2020.  In response to COVID-19 HMRC have advised that late filing penalties will not be charged for disposals completed between 6 April and 30 June 2020. 

Taxpayers/agents will have up to 31 July 2020 to submit returns without incurring a late filing penalty.  Normal filing deadlines will start from 1 July 2020, meaning that any taxpayer who files a late return from 1 August 2020 onwards will be charged a late filing penalty.  If taxpayers do file late and receive a late filing penalty, then they will be able to appeal against that penalty in the normal way.  Late payment interest will continue to be charged on payments which are late.