The deadlines for filing and paying CGT arising on the disposal of an interest in a UK property changed from 6 April 2020. These changes apply to both UK residents and non-UK residents.

These changes don’t apply if the residential property has been used solely as the owner’s private residence during the time it was owned.

From 6 April 2020, a person selling residential property in the UK making a gain which is liable to CGT will have 30 calendar days from the date of completion to tell HMRC and pay any CGT owed.

They will be able to do this using a new online service. The service is relatively quick and easy to set up, and permission for your agent to access the account can be given.

Individuals will receive a late filing penalty if they are not reported within 30 calendar days of completion. Interest will accrue if the tax remains unpaid after 30 days.

Published by
Stephanie Jenner
Senior Client Manager at AF Tax Solutions Ltd

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