In today’s autumn statement Chancellor George Osborne announced changes to capital gains tax as a result of the launch of the universal digital tax account to replace current self assessment
He has pledged to build ‘the most digitally advanced tax administration in the world’, with all individuals and small businesses offered digital tax accounts by the end of the decade in line with a major restructure of the HMRC involving office closures and move to more IT and online service delivery.
Osborne confirmed that by 2019, individuals will be required to pay any capital gains tax due by a deadline of 30 days after disposing of a residential property.
