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HMRC deadline for second property sales looms

Investors have only a few days left to disclose, without penalty, any gains made on the sale of a second residential property.

The HMRC Property Sales campaign allows those who have declared that they made a profit on a second property to pay the correct amount of tax by 6 September. Those who do not declare may face a penalty. “After 6 September, HMRC will use the information it holds to target those who should have made a disclosure under this campaign and failed to do so,” an HMRC notice said.

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