Self Assessment Property Income

Sale of property

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Advice please.  My client has now decided to sell their lett property.  Is there anything I should be aware of now they have sold?  Advice welcomed.  Thank you.

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By ann domonkos
07th Dec 2020 12:17

Yes you need to inform HMRC within 30 days.

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By Wanderer
07th Dec 2020 12:32

uktaylor wrote:
Self Assessment Property Income
Sale of property

Advice please.  My client has now decided to sell their lett property.  Is there anything I should be aware of now they have sold?  Advice welcomed.  Thank you.

Nothing you can think of then?
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By Anonymous.
07th Dec 2020 12:37

uktaylor wrote:

Advice please.  My client has now decided to sell their lett property.  Is there anything I should be aware of now they have sold?  Advice welcomed.  Thank you.

Can you be more specific? Is the client paying you for tax advice? Investment advice?

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By Kaylee100
07th Dec 2020 13:02

Yes, lots.

Do a course quickly on tax aspects of buy to let, holiday lets and claims that interact with these and also a course on HMRC reporting of residential property sales as there are 30 days from sale to make this return and arrange a quick payment of tax.

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By fawltybasil2575
07th Dec 2020 13:10

@ uktaylor (OP).

May I briefly interject by asking you to clarify the nature of the let property, eg a dwellinghouse or commercial property (previous esteemed posters have assumed provisionally that the property is a dwellinghouse - if it is not so, then the "30 days reporting period" aspect would be inapplicable).

Basil.

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By Duggimon
07th Dec 2020 13:37

Goodness gracious, what a query from a longstanding member of the profession! There are all kinds of things you need to be aware of, but nothing in particular we can advise on based on your tiny post.

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