IVtwo, Kintail House, Beechwood Park, Inverness, IV2 3BW
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 all transfers of title including gifts and exchanges.
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
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Kelpie Accounting and Tax
IV2 3JT, Inverness, Highland, Scotland, United Kingdom
Hours
Open today | 09:00 – 17:00 |
Copyright © 2018 Kelpie Accounting and Tax Ltd - All Rights Reserved.
Director - Ian Blackwood CA CTA