Taxman targets second home sales
HM Revenue & Customs is launching a campaign targeting people who sold second homes without declaring any profits made to the taxman.
The Property Sales campaign is aimed at people selling property in the UK or abroad where capital gains tax should be paid. This applies to any property that is not a main residence, including holiday homes.
Gary Ashford, a spokesman from the Chartered Institute of Taxation, says: “The main target will be those selling second properties or those people who have invested in property, including buy-to-let landlords.”
People have until August 9 to tell HMRC about any unpaid capital gains tax on property sales.”