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Since April 2020, UK residents who had Capital Gains Tax (CGT) to pay on the sale of a UK residential property have had to report this to HM Revenue and Customs within 30 days of completion and pay any tax due as well.

But, on 27th October 2021, the Chancellor announced in his Autumn Budget that the deadline would increase from 30 days to 60 days for any properties that complete from that date – 27th October 2021. Any properties where the sale completed before 27th October 2021 will still need to be reported within 30 days to HMRC.

There are also specific rules for non-UK residents disposing of UK land, but the 30-day extension will also apply to any of these disposals where completion is on or after 27th October 2021.

If you would like any advice or assistance in this area please contact us on 0800 0523 555 or use our simple online contact form to arrange a free initial consultation.

Date published 22 Nov 2021 | Last updated 30 Nov 2021

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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