As announced in Autumn Budget 2021, the deadline for reporting and paying capital gains tax on disposals of UK residential property is increased from 30 days to 60 days for disposals on or after 27 October 2021. Disposals before that date will still need to meet the 30-day requirement.
Welcoming the change, the ATT had previously noted that the 30-day time limit was too short to deal with all the necessary compliance work and had suggested extending the window to 60 or 90 days.
The Office for Tax Simplification’s May 2021 report Simplifying practical, technical and administrative issues highlighted that, between 6 April 2020 and 6 January 2021, 33% of UK property tax returns were filed late – commenting that that figure could be higher, with some taxpayers unaware of the requirement to submit a property tax return at all.
The deadline for non-UK residents is also extended to 60 days.
As announced in Autumn Budget 2021, the deadline for reporting and paying capital gains tax on disposals of UK residential property is increased from 30 days to 60 days for disposals on or after 27 October 2021. Disposals before that date will still need to meet the 30-day requirement.
Welcoming the change, the ATT had previously noted that the 30-day time limit was too short to deal with all the necessary compliance work and had suggested extending the window to 60 or 90 days.
The Office for Tax Simplification’s May 2021 report Simplifying practical, technical and administrative issues highlighted that, between 6 April 2020 and 6 January 2021, 33% of UK property tax returns were filed late – commenting that that figure could be higher, with some taxpayers unaware of the requirement to submit a property tax return at all.
The deadline for non-UK residents is also extended to 60 days.
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