Jennifer Adams investigates common errors taxpayers may make when completing capital gains tax property returns.
The capital gains tax (CGT) property return was introduced in 2020 as part of HMRC's ‘making tax digital’ initiative. Any individual UK resident who sells or gifts a UK residential property that is not exempt is required to submit a return and make the necessary payment within 60 calendar days from the date of completion of sale.
The UK property reporting service (also known as the 'CGT on UK property service') is
