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Sales of second homes under scrutiny

Sales of second homes under scrutiny

In a previous tax chat we advised you that HMRC were looking at underpaid tax on the sale of second homes.

Only your one main residence will qualify for tax exemption all other properties, whether lived in, rented out or used as a holiday home are subject to capital gains tax on sale.

We are aware that HMRC are actively pursuing this campaign and have seen a number of cases where additional tax is payable.

If you think you should have paid tax on a property sale or receive enquires from HMRC about a sale, please contact us as soon as possible.

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