New Capital Gains Tax reporting and paying rules for UK residents

Published 30 November 2015

Since 6th April 2015 all non-residents have had to report disposals of UK residential property to HMRC within 30 days of completion. This report includes a calculation of the capital gain and the tax thereon.

With effect from 5th April 2019 this obligation is to be extended to the disposals by UK residents of all UK property that is not covered by the Principal Residence Relief.

For those who are registered for self-assessment taxation there is the option of paying the CGT (Capital Gains Tax) in the normal time frame for paying all self-assessment tax liabilities ie before 31st January following the end of the tax year in which the disposal occurred. This will normally include all landlords, but if an individual who is not a landlord sells his holiday home he has just 30 days from the date of completion of the sale to complete and submit this rather complex form, calculate the tax due AND PAY IT. But don’t be fooled – everybody will have to submit the return and calculation of CGT within 30 days of completion whether there is tax to pay or not and whether they are opting to delay payment or not.

The message here is that if you are thinking about selling a property make sure you can put your hands on the documentary evidence (completion statement) dealing with the purchase because you wont have much time after the sale to go searching the attic!

The newsletters on this website are believed correct at the time of publication. They may not include subsequent changes in the law. If the subject matter is of interest you should contact us to see if there is a relevant update.

Taxation is a complicated subject and is subject to change. This article is provided for general guidance only. You should only rely on advice prepared specifically for you. Neither the writer nor Landlords Tax Services Ltd can be held liable for any loss arising from any act or omission by you as a result of your understanding of this article.

Landlords Tax Services Ltd, specialises in the taxation of residential property income and gains and around half its clients are resident outside the UK. If you would like specialist help contact Maurice Patry F.C.A. at or for more information visit our website at Landlords Tax Services Ltd