Date posted: 1st Oct 2025
HMRC is reminding property sellers about the vital 60-day reporting requirement for Capital Gains Tax (CGT) on UK residential property.
If a UK resident sells UK land or property and makes a gain/profit, they must report the disposal and pay any CGT due within 60 days of completion.
What is the 60-Day CGT Rule?
- When a UK resident sells UK land or residential property at a gain, a CGT return must be filed and the tax paid within 60 days of the sale’s completion.
- Non-UK residents disposing of UK property must also report and pay CGT within 60 days, even if there is no CGT to pay.
HMRC’s New Initiative
- HMRC now reviews the land registry records and may write to property sellers where it believes a CGT 60-day return is required.
- The letter identifies the property sold and provides guidance links.
- If no return is needed, sellers should contact HMRC using the details provided.
Penalties and Interest
- Interest is charged on CGT paid late.
- Late submission of a CGT 60-day return will incur a penalty.
Points for Sellers and Their Advisers
- Only limited taxpayers will receive an HMRC letter, but as new property transactions are identified, letters will be sent regularly.
- Sellers in self assessment must also report the gain on their annual tax return.
It is essential to remain aware of these rules to avoid penalties and interest charges.
Contact us for expert support and guidance with CGT reporting or if you have recently sold UK property and are unsure of the requirements.
