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Disposals of UK land ― capital gains tax compliance regime


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
tag-icon Tax Returns

Disposals of UK land ― capital gains tax compliance regime


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
tag-icon Tax Returns
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STOP PRESS: The remittance basis is to be abolished from 6 April 2025, although this only applies to foreign income and gains arising on or after that date. The remittance basis rules still apply to unremitted income and gains arising before that date but remitted later. The legislation is included in Finance Bill 2025. For more details, see the Abolition of the remittance basis from 2025/26 guidance note.

Summary

The detailed rules are discussed below, but in summary:

  1. •

    this compliance regime applies to (a) non-residents in relation to direct or indirect disposals of UK land and (b) to UK residents (and non-residents carrying on a trade via a UK branch or agency) in relation to direct disposals of UK residential property

  2. •

    where a capital gains tax UK property disposals return is required, this must be filed within 60 days of completion (30 days prior to 27 October 2021) and any tax due, based on the best estimate available at the time, must be paid by the same deadline

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  • 04 Feb 2025 06:01

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