Penalised over CGT due to Government emergency rules?Make Text Bigger
My wife and I were selling a Furnished Holiday Let with a completion date of 3rd April 2020, in order to take advantage of our 2 x CGT allowance of £12,000 (tax year 2019 – 2020) and not have to pay the CGT until 31st January 2021.
However, due to the Government imposed ruling, we were not allowed to complete on that date and have now completed on 29th May 2020, but of course the rules have now changed and as a result, the CGT is due 30 days after completion.
This is very unfair and costly to us, through no fault of our own.
My questions is:
Have HMRC made any allowances / concessions for these situations, i.e. can we roll forward last year’s CGT Allowance and defer payment of the CGT due until 31st January 2021?
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