The Chancellor announced the following changes in land and property taxes in his Autumn Budget 2021:

Capital Gains Tax (CGT) on the sale of residential property

From 27 October 2021:

  • The CGT deadline for UK residential property sales will increase from 30 days to 60 days following completion.  This extension will also apply to non-UK residents. 

See Autumn Budget 2021: Capital Gains Tax (CGT)

Annual Tax on Enveloped Dwellings (ATED)

In the 2022-23 tax year:

  • ATED annual charges will rise by 3.1% in line with inflation.

Property Development

From April 2022:

  • A Residential Property Developer Tax is to be introduced on company profits derived from UK residential property development.
  • The chancellor has now set the rate of tax to be charged at 4%, on profits exceeding an annual allowance of £25 million. 
  • This tax was first announced in February 2021.

See Residential Property Developer Tax draft legislation published.

Real Estate Investment Trusts (REITs)

Fom 1 April 2022:

  • Finance Bill 2022 will ease the administrative burden applying to REITs and make technical changes to ensure that the legislation works as intended. Draft legislation was published in July 2021.

Stamp Duty Land Tax (SDLT)

Useful guides on this topic

Autumn Budget 2021: At a glance
A summary of key budget announcements together with items published without announcement.

Annual Tax on Enveloped Dwellings (ATED)
What is ATED?  Who does ATED apply to?  What relief is available and how is it claimed?  What are the ATED return filing dates?

CGT: Reporting, how to report CGT?
How do you report your capital gains? What return do you use?

 


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