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Michael Sohor & Co is now known as Tamen Accountants. This is a name change only - we are the same dedicated team, and look forward to serving our valued clients for many years to come.

If you sell a residential property that isn’t your main home on or after 27 October 2021, you'll need to report the sale to HMRC, and pay the tax owed within 60 days of the completion of the sale to avoid any penalties.

You have 2 years from the date of acquisition of a second home to nominate it is your principle private residence (PPR). Currently the last 9 months of your ownership of a property which you have lived in as your “PPR” are exempt from Capital Gains Tax. Lettings relief is all but gone now, with only periods where you co-habited with your tenant qualifying for lettings relief.

Yes you do, but there may be options to reduce this substantially. See the next FAQ for more info.

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Xero

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Deadlines don't have to be taxing

Our tax experts we can make sure all your tax returns are filled out and submitted in the most efficient way. Get in touch to find out more about our tax return services.