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Where Taxpayers and Advisers Meet

When you sell your property, how long do you have to let HMRC know

ritz13
Posts: 13
Joined: Wed Jan 02, 2019 4:54 pm

When you sell your property, how long do you have to let HMRC know

Postby ritz13 » Fri Jan 11, 2019 7:14 pm

Hi Guys

So if we were to sell our property in March 2019, when do we have to let the HMRC know by. And do we have until Jan 31st 2020 to disclose any Capital Gain made in the self-assessment?

Would this be any different if we sold the property mid April 2019?

Thanks

robbob
Posts: 2764
Joined: Wed Aug 06, 2008 4:01 pm

Re: When you sell your property, how long do you have to let HMRC know

Postby robbob » Fri Jan 11, 2019 7:37 pm

So if we were to sell our property in March 2019, when do we have to let the HMRC know by.
05/10/19
And do we have until Jan 31st 2020 to disclose any Capital Gain made in the self-assessment?
yes - presuming form is filed online
Would this be any different if we sold the property mid April 2019?
Yes - sale after 5/4/2019 would add 1 year onto above dates as you would be into the next tax year.

bd6759
Posts: 3069
Joined: Sat Feb 01, 2014 3:26 pm

Re: When you sell your property, how long do you have to let HMRC know

Postby bd6759 » Fri Jan 11, 2019 8:07 pm

Bur remember, a property sale takes place on the date when the contracts are exchanged, not the date of completion.

ritz13
Posts: 13
Joined: Wed Jan 02, 2019 4:54 pm

Re: When you sell your property, how long do you have to let HMRC know

Postby ritz13 » Mon Jan 21, 2019 4:00 pm

Thanks for your help guys :-)

Peter D
Posts: 10668
Joined: Wed Aug 06, 2008 3:37 pm

Re: When you sell your property, how long do you have to let HMRC know

Postby Peter D » Tue Jan 22, 2019 11:24 pm

Was this a BTL property of did you live there as you home. Regards Peter


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