HMRC Targeting Landlords: Roll-over Relief
Posted on 24th November 2022 at 09:20
The second set of nudge letters that we’ve heard of being issued, are to landlords that have claimed “roll-over relief” when they’ve sold residential property.
Roll-over Relief is a great scheme that allows you to defer paying your capital gains tax if you reinvest the sale proceeds, but it does NOT apply to residential property unless the property is used for FHL.
The Wealthy Team department at HMRC have been writing to taxpayers that have claimed roll-over relief and asking them to check that their returns are right. This isn’t an inquiry (yet) but a nudge.
If you have an concerns that you may of mistakenly claimed roll-over relief, now is the time to make sure that you’ve checked your return - if you or anyone you know need support with this, contact us.
#roll_over_relief #cgt #hmrc
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