Update 30 October 2024 – Following the Budget announcement today, some of the details mentioned in this insight may have changed. Please visit our Budget page for further information.
From 6 April 2020, Capital Gains Tax must be reported and paid for the sale of UK residential property within 30 days of completion.
Taxpayers and advisers have experienced a significant number of issues with the online service and in response HMRC have extended the reporting deadline to 60 days. If a purchase completed on or after 27 October 2021 it will report under the extended terms.
If the completion date was between 6 April 2020 and 26 October 2021 the deadline remains 30 days.
Capital Gains Tax can be a complex area. Everyone’s situation is different and getting advice that is tailored to your unique situation can ensure that your affairs are as efficient as possible. We offer a free initial consultation, so if you would like to speak to Beverley Wood, please get in touch with her on +44(0)330 024 3200 or email hi@hhllp.co.uk.
