6 April 2023 - 5 April 2024
We are writing to request the details to complete your personal tax return for the year ended 5 April 2024.
If you require a schedule which lists the values used to prepare your 2022/23 tax return, please contact us.
Please also ensure you provide us with details of any assets acquired or disposed of (including gifts) in the period 6 April 2023 to 5 April 2024, if applicable.
The online filing deadline for your tax return is 31 January 2025. We recommend early completion of your tax return to ensure you have sufficient time to plan for any tax liability arising. We would therefore appreciate it if every effort could be made to provide us with the relevant information as soon as possible, preferably no later than 31 August 2024.
Residential Property Sales and Capital Gains reporting
From 6 April 2020 HMRC introduced a 30-day reporting and capital gains tax payment deadline for all residential property sales. This applies to any residential property sale that results in a taxable capital gain, for example rental properties or second homes. It will generally not apply to the sale of your main home. This has since been extended to 60 days.
Please let us know as soon as possible if you are disposing of a property and we can advise if this will apply. If the capital gains tax return is not submitted on time HMRC are able to charge late filing penalties.
If you have any questions or concerns regarding your tax affairs, please do not hesitate to contact the partner or manager you usually deal with.
Evolve Tax & Accountancy LLP