If you have recently sold, or plan to sell, a property, please let your accountant know as soon as possible. It’s important that your accountant are notified promptly so they can ensure the correct reporting and submission of any required tax forms.
The reporting of a property sale must be included in your tax return for the relevant tax year, and in some cases, there are strict deadlines for notifying HMRC (such as the 60-day reporting requirement for residential property disposals).
By informing your accountant early, they can help you meet all filing deadlines, avoid potential penalties, and make sure any available reliefs are properly claimed. If you’re unsure whether your sale needs to be reported or would like guidance on what information needed, we are always here to help. Contact us for a free consultation.