Second home sales tax due

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SECOND home sales that have not been declared to HM Revenue and Customs need to be registered a week today.

HMRC’s Property Sales Campaign is aimed at those selling second homes in the UK or abroad where capital gains tax should be paid.

It includes properties that were rented out and holiday homes.

Taxpayers then have until September 6 to pay the tax that they owe.

By using the campaign to come forward voluntarily, people will receive the best possible terms, and any penalty will be lower than if HMRC approaches them first.

Marian Wilson, head of HMRC campaigns, said: ‘It is not too late for people to contact us.’

For more details on the campaign, taxpayers can visit HMRC’s website: hmrc.gov.uk/campaigns/psc.htm.

Help is also available from HMRC by calling 0845 601 8819.