Capital Gains Tax (CGT) reporting

60-dAY cgt reporting on property

Under the Capital Gains Tax (CGT) property rules, introduced 2020, CGT that arises following the sale of a residential property must now be declared and paid within 60 days.

Previously this aspect of taxation would have been taken care of on your annual self-assessment tax return, however the updated rules now require that payment is made within 60 days of disposal of the property.

A dedicated digital service is used to complete the reporting and the individual making the report must register for a Capital Gains Tax on UK Residential Property account with HMRC. You can either complete the report yourself or you may choose to authorise a tax adviser to complete this your behalf.

Once you have reported the property disposal and assuming that you need to make a payment of tax owed, you have 60 days from the date of completion (not the date of exchange of contracts) to ensure the tax is paid.

If you fail to file on time, you will be automatically subject to a late filing penalty of £100 for any returns over 60-days, and daily penalties come into effect for returns that are over 6 months late.
Additionally, there is a fixed penalty of £300 when a return falls 6 months late, and again at 12 months late.


If you are uncertain about filing a CGT property return, then our personal tax experts can support you with this task and ensure you meet your CGT obligations within the deadline.

We require just a few essential details relating to the property and its disposal as well as authorisation to act as an agent on your behalf when dealing with HMRC.

Our personal tax experts will review the details of your disposal, complete the tax computations and submit the CGT property return.

Our CGT Property Service Includes:

  • A review of your disposal to conform that it falls under this legislation and a CGT property return is required
  • Preparation of the capital gains tax computation
  • Ensuring that relief is obtained for all possible exemptions to minimize the tax owed
  • Reporting of the capital gain using the HMRC UK Property Account portal
  • Preparation of your self-assessment tax return to finalise the capital gains tax due

60-day CGT Property Reporting service

We have streamlined our CGT Property Reporting Service so that we are able to complete the process swiftly and at minimal cost, with only a small amount of your time required.

Prices start at £495 plus VAT for the computation and £110 plus VAT per submission. (Reduced rates available for existing accountancy clients.)

If you have a property disposal to report please get in touch with the Kingston Burrowes team.

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