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Changes to capital gains tax for UK residential property

16 March 2020

The deadlines for paying capital gains tax after selling a residential property in the UK are changing from 6 April 2020.

From 6 April, any UK resident must tell HM Revenue and Customs (HMRC) about the gain and pay the tax due within 30 days from completion.

HMRC has published information on GOV.UK on:

  • when you need to report capital gains tax
  • its new online capital gains tax service and updated guidance
  • non-UK residents
  • advice for agents
  • trusts - trustees and their advisers should also be aware of the tightened reporting and payment windows that they will face

This is a significant change for people who would previously only have had to enter the details on their self-assessment return and pay the tax due in line with the self-assessment deadlines.

Non-UK residents must also tell HMRC within 30 days.

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