Important changes to Capital Gains Tax (CGT) when selling Residential Property

By January 19, 2021 No Comments

If you have sold a UK residential property, which is not your main home you must declare the profits to HM Revenue & Customs and pay any CGT due.

If you sold property after 06 April 2020:

You must report and pay to HM Revenue & Customs any CGT due on UK residential property using a Capital Gains Tax on UK property online account within 30 days of sale/disposal.

Penalties and interest may be charged if you do not report within 30 days.

If you sold property before 06 April 2020:

You must declare this when completing your Self-Assessment Tax Return 19-20 as it would have been done in previous years.

Please note this important change in declaring your CGT to HM Revenue & Customers in order to avoid penalties/interest charges!!!

For more information, please visit

Don’t hesitate to contact us if you have any queries.

Parker & Co.