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Mapus-Smith & Lemmon chartered accountants in King's Lynn highlight changes to Capital Gains Tax payment

People selling residential property need to be aware of significant changes in how they make tax payments, say chartered accountants with offices in Lynn.

Mapus-Smith & Lemmon, located in King Street, have highlighted the fact that there is a major change to the deadline to settle Capital Gains Tax (CGT).

HMRC has confirmed that from April 6, 2020, anyone responsible for administering a taxable capital gain from the disposal of a UK residential property – be it from a deceased estate, property portfolio or other – will have to submit a residential property return and make a CGT payment on account within 30 days of completion of the disposal.

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