Capital gains tax nudge letters

The Chartered Institute of Taxation (CIOT) reported on 19 October 2020 that HMRC will be sending up to 14,000 "One to Many" targeted letters encouraging taxpayers to consider their capital gains tax position on disposals of properties in the year ended 5 April 2019.

Pro-forma letters and the briefing note can be found in the link below.

There could be many reasons why a property disposal has not been reported but if clients have concerns please feel free to get in touch.

https://www.tax.org.uk/policy-technical/technical-news/hmrc%E2%80%99s-one-many-letter-omitted-capita...

About author

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Stuart Crofton
Tax Adviser