Property Disposal Returns
Sneaking under the radar come the new tax year is the Property Disposal Return. These have been in place for non-resident landlords for a few years now but from the 6th April will affect all UK residential property owners making a disposal of a property that is not their main residence. The tax due remains unchanged ( subject to next month’s budget of course) but will be payable within 30 days of completion along with a Property Disposal Return. This means that where you had 9 months from the end of the tax year in which the disposal was made, tax will have to be paid within a month of the sale!