Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Late filing penalties on non-resident CGT

28 March 2018 / Adam Craggs , Constantine Christofi
Issue: 4641 / Categories: Comment & Analysis
istock-187938743_fmt

Holes in the regime

KEY POINTS

  • The taxpayer filed his non-resident capital gains tax return late.
  • HMRC imposed penalties.
  • The tribunal held that HMRC had misapplied the law.
  • The taxpayer’s penalties were reduced to £100.

Since 6 April 2015 disposals of UK residential property by non-UK residents have been subject to non-resident capital gains tax (NRCGT). A return must be filed within 30 days of disposal of the relevant property.

In Jackson (TC6329) the appellant was non-UK resident for tax purposes. He disposed of two properties in the UK in May and September 2015 with no gain arising.

In line with the other cases on this subject including McGreevy (TC6109)  Hesketh (TC6266)  Welland (TC6265) and Saunders (TC6173) the appellant did not realise that the rules had changed creating an additional filing obligation. It was Mr Jackson’s intention to comply with what...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

FIVE WAYS TO MAKE ACCOUNTS PRODUCTION AND TAX EASIER.
Download the exclusive Xero
free report here.

New queries
Please email any questions you might have
to: taxation@lexisnexis.co.uk.

back to top icon