Second Home Owners Are The Next HMRC Target

HMRC are now targeting people selling second homes in the UK or elsewhere to ensure capital Gains Tax (CGT) is paid on any profit from the sale. There is a voluntary declaration period that runs until 9 August for any gain not yet declared and until 6 September to pay any tax due. After that investigations will start into undeclared gains and penalties will increase. If you think you should have declared a gain on a second home then get in touch and we can help you make the CGT calculation and manage the reporting to HMRC.