CGT reporting deadline for disposals of residential property
CGT reporting deadline residential property
This change applies with immediate effect for disposals made on or after 27 October 2021.
This is a welcome change as it provides taxpayers with more time to comply with their CGT obligations, with many taxpayers only finding out about these obligations after they have disposed of a property.
Taxpayers who miss the new 60-day reporting deadline will continue to be subject to the automatic £100 late-filing penalty.
The government has also clarified that where a gain made by UK residents relates to a disposal of mixed-use property, only the proportion of the gain that relates to UK residential property is subject to the 60-day reporting and payment deadline.
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