One-fifth of property sellers miss CGT deadline

One-fifth of buy-to-let investors and second-home owners failed to pay their capital gains tax on time last year. New rules were introduced in April 2020 requiring those with taxable gains on residential property to report and pay CGT within 30 days. Under the previous system, they had up to 22 months to do so. The deadline was extended to 60 days in October 2021 following criticism that the turnaround time was too tight. Some 26,500 returns missed the filing deadline in the 2021-22 tax year, up from 25,300 people in the first year in which the new reporting requirement was introduced. The FT (£)