30 day deadline for reporting residential property sales
September 30, 2020by Frontier Group
Taxpayers are now required to report and pay CGT within 30 days for gains arising on UK residential properties. All disposals of UK real property made on and after 6 April 2020 by UK resident and UK non-residents must be reported through the new CGT on UK property account, which is separate to their personal tax account. The old NRCGT form can now only be used for disposals made prior to 6 April 2020.
HMRC has confirmed that it has fixed an issue with verification that was preventing some taxpayers (particularly overseas taxpayers) from setting up a Government Gateway account in order to access the CGT on UK property account.