New UK proposals to speed up Capital Gains Tax (CGT) payments for residential property sales, by HM Revenue and Customs (HMRC) could have a negative impact on individuals, landlords and property investors, according to Nimesh Shah, partner at accounting, tax and advisory practice Blick Rothenberg. 

The consultation document proposes changes to the way CGT is collected on the sale of a residential property, suggesting that a payment on account of CGT will need to be made to HMRC within 30 days of a residential property sale.  

Mr Shah believes that the Government is keen to collect CGT as soon possible, b...