In a very welcome move for taxpayers, and advisers!, the Chancellor announced in his Budget a relaxation of the reporting window for disposals of UK residential property.
Prior to 27th October 2021, the reporting window was 30 days from completion when a UK resident individual disposed of UK residential property with a capital gain and for non-UK residents disposing of any UK land or property.
From Budget day, 27th October 2021, the deadline is now 60 days from completion. The tax is due at the same time.
So, to carry the title through to the article, taxpayers can relax (but do it, within 60 days).
If you have any questions about capital gains tax on a property you are planning to sell, or have sold and not yet reported, please contact Marc Dorsett on 01245 228146.
