New deadline for Capital Gains Tax

Currently, unless you are non UK resident, you report your capital gain on residential property via self assessment by 31 January following the end of the tax year of disposal and any tax due at that point.

By Debbie Franklin, Director of Tax and property tax specialist

Currently, unless you are non UK resident, you report your capital gain on residential property via self assessment by 31 January following the end of the tax year of disposal and any tax due at that point.

From 5 April 2020 a return will need to be made and payment within 30 days of completion unless the gain is fully covered by Private Residence Relief (your own home).

Don't forget CGT is generally triggered on date of exchange, not completion!

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