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This is a freeview 'At a glance' guide about how to report capital gains.

How do you report your capital gains? What return do you use?

There are different ways for individuals to report capital gains depending on whether you are resident or non-resident, and whether you are in or out of Self Assessment.

At a glance

For individuals only: disposals on or after 6 April 2020

 

Are you UK resident? No = Gains on UK property reportable online. Within:
  • 60 days if the completion date was on or after 27 October 2021
  • 30 days if the completion date was between 6 April 2020 and 26 October 2021
 NRCGT return only used for indirect disposals and disposals of mixed-use properties.
Yes  ↓
Do your total capital gains exceed the Annual Exemption?

       Yes    

  ↓ No
Do your total proceeds on capital disposals exceed four times the Annual Exemption?

  Yes

  ↓ No
  Gain is not reportable. 
 
Are you selling a residential property? Yes = Must report gains online and pay the tax within Within:
  • 60 days if the completion date was on or after 27 October 2021
  • 30 days if the completion date was between 6 April 2020 and 26 October 2021
If you are in Self Assessment must also include it on Self Assessment return. If not in SA only the 30-day/60-day return is required. Note: a 30-day/60-day return is not required if there is no CGT liability, e.g. if there are brought forward losses.
No  ↓
Are you already in Self Assessment? Yes = Report on your Self Assessment return. Tax due 31 January following end of tax year.
No  ↓

Register for Self Assessment or use the real-time CGT reporting service. See Overview.

Tax due 31 January following end of tax year.

 

For individuals only: disposals before 6 April 2020

Are you UK resident? No = Gains on UK property reportable on NRCGT returns within 30 days. Tax payable within 30 days if not in Self Assessment.
Yes  ↓
Do your total capital gains exceed the Annual Exemption?

       Yes        

  ↓ No
Do your total proceeds on capital disposals exceed four times the Annual Exemption?

  Yes

  ↓ No
  Gain is not reportable.
 
Are you already in Self Assessment? Yes = Report on your Self Assessment return. Tax due 31 January following end of tax year.
No  ↓
Register for Self Assessment. Tax due 31 January following end of tax year.

 

Overview

UK resident

Reporting requirement for disposals on or after 6 April 2020 

Using an agent to report disposals on or after 6 April 2020:

Trustees who need to report disposals:

Reporting requirement on disposals before 6 April 2020

Real-time CGT reporting: outside Self Assessment

Real-time CGT reporting: Already in Self Assessment

Non-UK residents

For NRCGT disposals before 6 April 2020

For NRCGT disposals on or after 6 April 2020 

Repayment of CGT

As CGT is payable within 60 days of a disposal, it may not be possible at that time for a taxpayer to know what their total Income Tax liability will be for the year. 

In order to offset CGT paid against Income Tax, the taxpayer or their agent should phone HMRC on 0300 200 3300 or the agent dedicated line, to ask HMRC to manually offset the CGT paid against their Income Tax liability.

Alternatively, if there is time, you should amend the CGT UK property return and this will allow a refund via the CGT system. If this is done before submitting the SA return this will avoid the need for HMRC to create a manual override.

See CGT: Payment of tax

CGT Property Disposal Return FAQ

When must CGT UK Property Returns (UKPR) be filed?

UKPR must be filed within 60 days of the completion date of the property disposal.

For purchases prior to 26 October 2021, they must have been filed within 30 days of completion.

What is the interaction between UKPR and Self Assessment returns?

UKPR must be filed before filing the Self-assessment return. Disposals cannot be reported on a UKPR after a Self Assessment return has been filed.

The only exception to this rule is where the Self Assessment tax return is filed within 60 days of the completion of the property transaction. This situation removes the requirement to file a UKPR.

It is unclear how HMRC will approach UKPR penalties if the Self Assessment tax return filing prevents the UKPR from being filed.

When can I make payments of tax due?

CGT payments due as a result of a UKPR cannot be made until the return has been processed.

When HMRC process the return, they will issue a payment reference which needs to accompany the payment.

Can I appoint an agent to deal with UKPR?

An agent can be appointed using Form 64-8. However, there is no way to limit this authorisation to deal with only UKPR returns, completing a 64-8 would remove the authority for an existing agent.

A ‘digital handshake’ procedure is also available whereby an individual gives their CGT on UK Property Account number and UK postcode to an agent. The agent then submits those details on their agent account which results in the individual receiving an authorisation email they then need to pass back to the agent.

See: HMRC guidance at CG-APP18-120

Do I need to file online?

A paper return is needed in certain situations. This includes where a taxpayer is prevented from setting up a government gateway account due to being unable to meet the identity options available and non-residents who are not otherwise required to obtain a Unique Tax Reference number.

HMRC guidance provides an alternative sign-in process for non-residents who do not have a UTR or National Insurance number:  See: CG-APP18-160

How can I claim a repayment or tax offset?

Disposals can need reporting on both UKPR and through self-assessment.

For the 2020/21 tax year, where a UKPR liability is higher than that in the Self Assessment tax return, it is necessary to phone HMRC to request a manual offset of that excess payment.

This should not be the case in 2021/22, any excess payment should automatically offset against any self-assessment liability. If the self-assessment is in a refund position, HMRC should be contacted to request repayment of CGT paid under UKPR.


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