HMRC offers second property owners ultimatum

This article first appeared on Your Money. Taxpayers must tell the authorities about any unpaid tax on such property sales by 9 August and have until 6 September to pay the tax that they owe. HMRC's Property Sales Campaign is aimed at those selling second homes in the UK or abroad where capital gains tax (CGT) should be paid. It includes properties that were rented out and holiday homes. HMRC said those who voluntarily come forward will receive the 'best possible terms and any penalty will be lower than if HMRC approaches them first'. HMRC head of campaigns Marian Wilson said: "...