If you are an investor in residential lettings or had let your previous home and now you want to sell your property, you should consider selling before 5th April 2020. Some of the changes that will happen in the new tax year are:
- Filing a return within 30 days of sale and paying the tax by that date
- Loss of the Letting Relief of £40,000 as you will now have to live in with the tenant to get this relief!
- The final period of ownership gave rise to an exemption that effectively took out 18 months from the ta period. That period will reduce to 9 months in the new tax year