Capital Gains Tax Returns
Capital Gains Tax Returns
UK Residents
If you are UK resident and have sold a UK property and made a taxable gain, you are required to file a CGT return and pay any tax due within 60 days of the completion of the sale.
We can help you calculate your CGT position and establish if a return is required. We will ensure all allowable expenses are considered when calculating your final tax position and if a CGT return is required we can assist with that too.
If CGT is due, a Self-Assessment tax return is also required for the year of disposal, even if you don’t usually file one, this is also a service we can provide.
Non-Residents in the UK
If you have sold a UK sited property and you are not UK resident when the sale completes, then you must file a Non-Resident CGT Return, regardless of whether there is a taxable gain.
As a non-resident there are a number of options on how the gain is calculated, we can assist with calculating all methods and advising you of the most beneficial way to file.
The NRCGT return must be filed within 60 days of the completion of the sale and any tax paid by the same date.
You will then be required to file a Self-Assessment Tax Return for the year of disposal.
If you would like our help, please get in touch and we can advise you of the next steps.
