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CGT changes for UK residents

Since 5th April 2020, a UK resident who has Capital Gains Tax (CGT) to pay when they dispose of a UK residential property, has to report and pay the CGT within 30 days of completion. From 27th October 2021, the 30 day period increased to 60 days for completion dates on or after 27th October 2021. The 30 day deadline remains in place for disposals which were completed before 27th October 2021. 

CGT changes for non-UK residents

The tax position is different for individuals who are not classed as UK residents. Non-UK residents are required to report all disposals of UK land (not just disposals of residential property), whether or not they realise a capital gain. This requirement also extends to disposals of shares in property-rich entities. Non UK residents will also benefit from the extension. Non-UK residents will have 60 days from the date of completion to report disposals and pay any tax due. If the completion date was before 27th October 2021, they must continue to report and pay any CGT within 30 days from the date of completion.

Date published 1 Nov 2021 | Last updated 3 Nov 2021

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