Upcoming changes to tax in April 2020
Lindsey Wicks looks at the measures set to apply from April 2020, and raises concerns that some still lack clear guidance from HMRC.
In the tax world we are used to change every April. However, this year feels different. Even though we have known about many of these changes for a long time, we are still awaiting enacted legislation for most of them.
This is one of the few measures with enacted legislation in place: s14 and Sch 2, FA 2019. It brings forward the reporting and payment of capital gains tax (CGT) on residential property disposals to 30 days from the date of completion of the disposal, compared to the previous deadline of 31 January following the end of the tax year.