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  • Rhoda Cooper

NEW 60-day deadline to report and pay CGT on certain property disposals

On 6 April 2020 there was an important change to the deadline for reporting and paying capital gains tax on the disposal (such as a sale or gift) of UK residential properties. But please note that these changes do not apply to sales of your own home where you have occupied it as your main home throughout your ownership. Therefore, these rules will apply to additional homes or buy to lets.

It is now a requirement that UK residents, disposing of a UK residential property at a profit where capital gains tax becomes due (because the profit made exceeds all tax allowances and losses available), have 60 calendar days from the date of completion to tell HM

Revenue and Customs and pay any tax due. This was 30 days for disposals completed prior to 27 October 2021.

For individuals disposing of property this is done by using a new online service and I, as your agent, can use this on your behalf once I have been initially authorised by you.

For trustees and executors, unfortunately, an online system is not yet available and a paper return should be prepared. To obtain the correct paper return, you have to ring the HMRC Trust and Estate Helpline giving details of the property sale and the Trust or Estate details.

I must stress again that you only have 60 calendar days to report and pay capital gains tax on these type of property disposals. Therefore, if you would like me to assist you with the return and advise on the tax due then please get in touch with me as soon as you are able. HM Revenue and Customs are issuing penalties and charging interest where returns and payments are late.

In addition to the 60-day return, this disposal should still be included on your self-assessment tax return.

I am here for you and if you have any questions, please do not hesitate to drop me an email at or call 0116 216 7681.

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