SOLD ANY OF THESE 5 ASSETS? HMRC's System Knew Before You Reported It (2026 Warning)

HMRC spent £100 million building a data system called Connect. It pulls information from over 30 sources simultaneously: your bank accounts, Land Registry, the DVLA, eBay, Airbnb, crypto exchanges, and letting agents. When you sell an asset, HMRC's system frequently knows about it before you file anything. The CGT annual exemption has been cut from £12,300 to £3,000 — meaning gains that were once invisible to HMRC now produce a tax bill. And residential property must be reported within 60 days of completion, not the end of the tax year. In this video: How HMRC Connect works — and which of the 30-plus data sources is most likely to flag a sale you thought was private Why the CGT exemption cut from £12,300 to £3,000 changes the calculation on assets most retirees considered too small to worry about The 60-day residential property reporting rule — and the automatic penalties that apply whether or not you knew it existed Where Private Residence Relief does not fully protect a property sale — the periods abroad, the second home, the let annex The lettings relief change of April 2020 that most pensioners who took in lodgers in the 1990s still don't know happened Sources: → HMRC Capital Gains Tax: gov.uk/capital-gains-tax → Report CGT on UK property: gov.uk/report-and-pay-your-capital-gains-tax → HMRC CGT helpline: 0300 200 3300 → gov.uk/capital-gains-tax/allowances Important: This channel is for general information and educational purposes only. Nothing here constitutes financial or tax advice. Always consult a qualified tax adviser regarding your personal circumstances. Graham Ashworth is a retired civil servant, not a regulated financial adviser. #CapitalGainsTax #HMRCConnect #CGT #UKRetirement #UKTax #HMRC #AssetSale #GrahamAshworth #UKRetirementPlanning #CGT2026