Residential Property – 60 Day Capital Gains Tax Return

Residential Property Gains

For a disposal of residential property with a completion date on or after the 6th April 2020 new rules require a taxpayer to file a Capital Gains Tax Return and pay the tax due within 60 days of completion.

A disposal includes;

Selling
Gifting, swapping, transferring ownership to someone else
Receiving insurance compensation on it’s loss

A return is not required if there is no Capital Gains Tax payable, such as where the property has been occupied as a main home for it’s entire period of ownership.

In addition to the 60 Day Capital Gains Tax Return the gain will also need to be reported on the Self -assessment tax return.

Gains arising on the disposal of other assets and Non-Residential property do not get reported on the 60 day return and are only reported on a Self -assessment tax return.

We can:

Advise you on Capital Gains Tax and the various reliefs available
Prepare the calculations and explain the payments required for a Residential Property 60 Day Capital Gains Tax Return
Prepare and file your Self Assessment Tax Return

Qualified Accountant and Bookkeeping services giving you peace of mind

Residential Property – 60 Day Capital Gains Tax Return

Residential Property Gains

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