Pay CGT on property in 30 days

September 23rd, 2019  |  Published in Uncategorized

From 6 April 2020, Capital Gains Tax due on the disposal of residential properties will be payable within 30 days of the completion date.

Normally you would tell me after the end of a tax year, when doing your self assessment, but from next April you must tell me asap, so we can report the sale and pay the tax within 30 days, or else there will be a penalty.

Originally for non residents only, this change was due to start in April 2019, but has been deferred for another year. We don’t have to report if the gain on your property is less than the annual limit, but don’t just assume it doesn’t apply to you, get in touch if you sell a property or other chargeable asset.

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