Tax­man tar­gets sec­ond home sales

Yorkshire Post - Property - - PROPERTY -

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.”

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