As you may be aware the rules on reporting the sale of UK residential properties changed from 5th April 2020. From this time, HMRC had to be advised of the sale and any tax paid within 30 days. This was later extended to 60 days for UK residential properties sold on or after 27th October 2021. The sale can be reported by completing a CGT on UK Property Return via HMRC’s digital service.

As well as completing the CGT Return, the disposal must also be declared on the Self-Assessment Tax Return for the year the disposal falls into (e.g., a property disposed of on 01/11/2021 should have been reported to HMRC by 30/12/2021 and included on your 2021/22 tax return).

Should you come to prepare your Self-Assessment (SA) Tax Return for 2021/22 and realise that you should have submitted a CGT Return to HMRC and did not, then the CGT Return should be completed before submitting the SA Return. If you have in fact already submitted your SA Return then you can no longer use HMRC’s digital service to report the disposal. Instead, you must do so by completing a paper return. This paper form must be requested directly from HMRC on 0300 200 3300.

If you require any assistance or advice relating to the CGT on UK Property Tax Return, please do not hesitate to get in touch.