CGT reporting extended to 60 days

CGT reporting extended to 60 days

10:25 AM, 28th October 2021, About 2 years ago 5

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As of Budget day, the government has immediately extended the deadline to report a Capital Gain on the sale of residential property from 30 days to 60 days.

They have obviously realised this was a needlessly tight timescale and may have responded to complaints made by members of the Association of Accounting Technicians who have been very vocal on the subject

Adam Harper, Director of Professional Standards and Policy, AAT, said: “Since the change to 30 days came into effect last year, AAT has repeatedly highlighted its members’ concerns, particularly AAT Licensed Accountants, with the unreasonable nature of a 30-day timeframe for reporting qualifying CGT liabilities.

“AAT was convinced that the most effective solution to this problem would be to double the reporting period from 30 to 60 days. That’s what we spoke to various stakeholders about and made representations to Treasury ministers and provided a Budget submission on, so naturally, we are very pleased that they’ve listened and acted accordingly.”

If you sold property in the UK on or after 6 April 2020


You must report and pay any tax due on UK residential property using a Capital Gains Tax on UK property account. You must do this within:

  • 60 days of selling the property if the completion date was on or after 27 October 2021
  • 30 days of selling the property if the completion date was between 6 April 2020 and 26 October 2021

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brian clement

20:44 PM, 28th October 2021, About 2 years ago

Took me much more than 60 days. Gifted a property on 22/03/21 that I had owned for 25 years. Lots of paperwork. Sat down when I could and sorted paperwork which was not simple. At the same time I am working full time running my property business. It took me over 3 months. I then tried to pay my capital gain only to find that I first had to submit my annual tax return. That took another 2 months. I then tried to pay my capital gains and annual tax return only to find the procedure had completely changed. I first needed a government gateway account. This was full of stupid questions digital log in codes. I couldnt do it. I contacted an accountant who said I had to do it and he was not allowed to help. Has the world gone mad. I am trying to PAY my tax. After sleepless nights and help from people I finally did it. It was extremely stressful for me. I then had to do a similar login to pay my capital gains. This also gave me sleepless nights. Finally I did it and at this point I could ask an accountant. He sorted what was needed and I finally received a request for payment from hrmc. However when i tried to pay it with my debit card it said 'the user of this card is not registered to the the users address'. So I went to my bank who called up my account and there it was, my account at my address. So I had to get an old debit card and put some money on it and pay it with that one. I had finally done it. Not in 30 days but just over 6 months (which would have been ok under the old system). That was not the end however because I then had to pay the fines for late payment. Is this the new way our government is raising money ?

Ian Simpson

8:17 AM, 30th October 2021, About 2 years ago

Dear Brian

I feel for you, inasmuch as every time I try and do something like this it is unspeakably complicated and time consuming. The govt is clearly not there to help, but to hinder, delay and exasperate. I (hopefully) will be selling some of my portfolio in the next year or so, so have all this to come. I have to say though, that most "buyers" are simply chancers, and time-wasters, offering way below value in the hope of a distressed sale. We will get there eventuially , when the real buyers appear...!!
Good luck with it!

Pixie Props

0:14 AM, 31st October 2021, About 2 years ago

I have half share of a Doncaster rental property with my sister who lives in California. We sold it in September. We have always kept our business affairs squeaky clean and Compliant.

Did my CGT reporting through Gov Gateway Account. What a pantomime it was trying to help my sister declare her CGT Share. We went on HMRC website. It’s an absolute monster that wasted 3.5 hours of our time leading us round and round without getting anywhere.

Setting up the .GOV Gateway was an absolute farce. My sister entered allsorts of info, creating passwords, etc. When it came to the Verification stage she was denied because she is in USA.

I called HMRC and they said she was “Digitally Excluded” and they would send her a form. Nothing arrived, after 3 weeks I called again and was told they would resend. 2 weeks later a wrong form arrived. Was for UK resident not the Non-Resident version which should have dopey differences, like, what was the value in 2015??
In despair we have downloaded revenue computation sheets. My sister will then sign and initial each sheet and attach a letter, send it to me and I will post from uk as I don’t trust any addresses they have given us.

The farce of it all is - her gain is less than her allowances so nothing is payable anyhow.
To sum up, surely the Revenue need to have the service a lot slicker and stop these regulations being introduced they surely don’t need this additional work and us landlords need looking after much kinder.
We have decided this Doncaster sale will not be our last we will now look towards the Wirral to clear out the rest. Sorry for our tenants but it doesn’t make sense anymore.

Simon Lever - Chartered Accountant helping clients get the best returns from their properties

13:15 PM, 31st October 2021, About 2 years ago

Reply to the comment left by Pixie Props at 31/10/2021 - 00:14Hello Pixie
Not sure why you have had this problem. There is a separate reporting structure for non-resident landlords. The form to be completed can be found here:
Guidance on what you need to do can be found here:
Alternatively you could use an agent to help you. Make sure they know how the system works.
However if you want to do it yourself you can but as you have found out it can take a lot of time and
The 2015 date is relevant as there is no gain on the sale of residential property by overseas landlords prior to this date. But then an expert could have told you this and how to structure the CGT computation to your sister’s best advantage.!
Sometimes paying an expert is actually worth while!

Pixie Props

16:27 PM, 4th November 2021, About 2 years ago

For SIMON LEVER; Many thanks for your reply and appropriate links.
Yes, we do have a paid accountant but he was waiting for us to give him a UTR Number and Pin.
He also asked her to set an account for CGT on UK property giving him the number.
It was this we struggled with. Will have to see if they accept the information that we have sent.
Otherwise we will use your links with thanks. Next step to see how to Authorise an accountant to act for my USA resident sister.
Thanks again for helping.

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