Buy to Let Properties and the Main Home

HMRC are proposing some radical changes to the way Capital gains tax is calculated on the sale of Buy to Let properties that may, at one time, have been a main residence. The changes, which are scheduled to be introduced on 6th April 2020, could see some property owners paying up to £25,000 more in capital gains tax, if the property is sold after that date.

The due date for reporting the sale and paying the tax is also to be radically reduced to 30 days after completion of the sale.

If you think you may be affected by these changes please contact us today to discuss your circumstances.