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Article summary

The Association of Taxation Technicians has reported that HM Revenue and Customs (HMRC) has updated its guidance on capital gains tax (CGT) on UK property returns, specifically adding a section on the interaction between the UK Property Reporting Service and 2020/21 self-assessment returns. This section covers the situation where a taxpayer has paid more CGT on their property return than is found on completion of the self-assessment return. It also covers the situation where a taxpayer is unable to pay CGT on their property return as the payment reference has not yet been issued but is ready to file their 2020/21 tax return.