30-day Capital Gains Tax reporting function is extended by HMRC


As from 6 April 2020, Capital Gains Tax on residential property in the UK is required to be reported and paid to HMRC within 30 days of completion. However, the HMRC reporting system has had a number of glitches, some of which have now been resolved.


The updated system is now allowing gains on second and subsequent disposals to be reported online. Previously the reporting system had only allowed for one online filing in each tax year, resulting in the need for any further filings to be reported on a paper return.

In addition, the system now has the capacity for personal representatives and those holding a power of attorney to report gains, and for agents to be able to report on behalf of their clients.


An issue regarding verification for some taxpayers, and in particular overseas taxpayers who were unable to access the system has also been resolved. And, the next scheduled update is believed to include a facility that allows for amends to be made to returns which have already been filled.


It is only necessary for UK residents to report any gains on UK residential property when CGT is due. However, it should be noted that this can include a property disposal, the gifting of a residential property, or the sale of principle private residence that is not entitled to full tax relief. For non-residents, the tax liabilities can be more extensive and in some cases will apply even where tax is not due.

For further information on 30-day CGT reporting, or for help to manage your tax liabilities, please contact our dedicated team on 01932 320800 or email info@everfairtax.co.uk.

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