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1.1 Earlier than you begin

1.11 UK residents.

1.12 Non-UK residents

1.13 Paper returns

1.14 Info required

1.1 Earlier than you begin

The reporting necessities for non-UK residents and residents are completely different. Earlier than utilizing this service, the one that made the disposal should decide what they consider their residence standing to be for the tax 12 months of the disposal. Additional info on figuring out residence standing could be present in RDRM11000 .

1.11 UK residents

From 6 April 2020, UK residents, who make a disposal of UK residential property should use the CGT on UK Property Account to report and pay to HMRC any CGT arising from the disposal:

  • Inside 30 days of disposing of the property, if the completion date was between 6 April 2020 and 26 October 2021.
  • Inside 60 days of disposing of the property if the completion date was on or after 27 October 2021.

There isn’t any must report any disposal the place there isn’t any CGT legal responsibility (though customers can report such disposals voluntarily). There could also be no legal responsibility for instance if:

  • Non-public Residence Aid applies in full, see CG64200c
  • The acquire is roofed by the Annual Exemption, see CG18000p
  • The acquire is roofed by introduced ahead losses or present 12 months losses realised previous to completion of the disposal, see half 2.5.1 of this steerage, and CG15800p for additional CG steerage on losses.
  • A CGT Aid applies which reduces the complete acquire to nil, see half 2.4.4 of this steerage and CG60201c

1.12 Non-UK residents

Non-UK residents should report all disposals of UK property to HMRC, even when there isn’t any tax to pay or have made a loss. This consists of any disposal of residential or non-residential UK land and oblique disposals of UK property. The related laws could be present in schedule 2 of the Finance Act 2019. Additional particulars on non-UK resident disposals could be present in CG73920P additional info concerning disposal made by Collective Funding Autos could be present in CG73995P.

1.13 Paper returns

Paper returns needs to be made solely within the following circumstances, the place the particular person reporting the disposal is:

  • Digitally excluded or unable to go HMRC’s on-line verification course of
  • An agent who has been engaged solely to cope with a return
  • A private consultant who desires to authorise a unique agent to cope with the deceased property to the one who offers with their particular person tax affairs
  • A private consultant who desires to amend a return which has already been despatched on-line
  • A Capacitor (similar to Energy of Legal professional) who desires to authorise an agent to file, the UK property return
  • A Capacitor who desires to amend a return which has already been despatched on-line
  • A company trustee
  • A safe or Public Division 1 buyer who doesn’t file returns on-line with HMRC.

Paper returns could also be requested by contacting HMRC.

1.14 Info required

The next info is required to make a return:

  • Property handle and postcode of the property being disposed of
  • Date you acquired the property
  • Date contracts have been exchanged for the disposal of the property
  • The completion date (conveyancing date)
  • Worth of the property when it was acquired
  • Worth of the property when it was disposed of
  • Prices of shopping for, promoting, or bettering the property see CG15180
  • Particulars of any tax reliefs, allowances, or exemptions obtainable
  • Property sort, for non-residents. (similar to residential, non-residential, combined use or oblique disposal)

Additional steerage concerning the acquisition particulars could be present in [link to 2.4].

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