Capital Gains Tax on disposal of residential properties

HMRC have now updated their online system for reporting disposals of residential properties subject to CGT. It is now possible to report a second disposal online.

Since 6th April 2020, Capital Gains Tax (CGT) on all UK residential property sales must be reported online by UK residents and a payment made to HMRC within 30 days of completion.

Due to COVID-19, HMRC allowed a delay in reporting and paying on all transactions completed before 1st July. All gains had to be reported and paid by 31 July 2020. This has not been extended and reporting and payment must be done within 30 days of completion