Capital Gains Tax - 30 Day Reporting/Payment Requirement
Discussion
Just a reminder to everybody that new rules for reporting and paying capital gains on the disposal of residential properties came into effect on 6 April.
This is no longer part of the annual Self Assessment tax return system. It is something you must do online under a new gateway reporting system.
From HMRC website -
If you have sold property in the UK
If you sold your property after 6 April 2020 you must report and pay Capital Gains Tax within 30 days of selling property in the UK.
You may have to pay interest and a penalty if you do not report gains on property within the time limit.
You’ll need a Government Gateway user ID and password. If you do not have a user ID, you can create one when you report and pay.
This is no longer part of the annual Self Assessment tax return system. It is something you must do online under a new gateway reporting system.
From HMRC website -
If you have sold property in the UK
If you sold your property after 6 April 2020 you must report and pay Capital Gains Tax within 30 days of selling property in the UK.
You may have to pay interest and a penalty if you do not report gains on property within the time limit.
You’ll need a Government Gateway user ID and password. If you do not have a user ID, you can create one when you report and pay.
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