Capital Gains Tax on property

30 day return requirement for property disposals

We are still seeing a number of cases where people making property disposals have been unaware of the requirement to file a special tax return and pay the tax due within 30 days of completion.

If this deadline is missed, HMRC will charge penalties and interest.

The rules are as follows:

For UK residents

A 30 day return is necessary where a residential property has been sold giving rise to a capital gains tax liability.

This could be, for example, a second home, a rental property, or an inherited property that has increased in value during the probate period.

The process requires the seller to register with HMRC and create a "capital gains tax on UK property" account.

For non-UK residents

Similar rules apply to non residents, who must complete a 30 day return for all property disposals – not just residential property – irrespective of whether there is a tax liability.

Capital Gains Tax on property

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