I sold a property this year and HMRC say I need to do a tax return?

If HMRC have issued a return you will normally need to complete and submit it. If you make a gain on the sale of a property you will need to pay capital gains tax on your profit: if you make a loss you will need to submit a return to claim the loss for use against any gains you make elsewhere.  The only exception to the need to submit a return, is a gain you make on your main residence where it fits wholly within the exemption available.

To find out more, call us on +44 (0)330 024 3200 and speak to one of our personal tax experts.

Subscribe to our Newsletter