Capital Gains Tax Changes – April 2020

There are three changes coming in next year which will have a significant effect on UK residential property sales taking place after 5 April 2020.

Two of these changes may be relevant if a property is sold which at some stage was the individual’s main residence.

The third change is an acceleration of the reporting and payment of a capital gains tax liability on the sale of residential property.

What is changing?

  • Lettings Relief: Potentially £40,000 relief lost
  • Reduction of relief available for the final period of ownership
  • Reporting and payment of Capital Gains Tax payable to HMRC

Find out more in our fact sheet.

If you have any concerns about what this change means for your business get in touch with a member of our property tax team on 01903 234094.