Changes to Capital Gains Tax (CGT)
Tax payment window for UK residential property extended.
From 27 October 2021 the deadline for residents and non-residents to report and pay CGT after selling UK residential property will increase from 30 days after the completion date to 60 days. This will be a welcome measure for taxpayers, giving them sufficient time to report and pay CGT.
When mixed-use property is disposed of by UK residents, the 60-day payment window will only apply to the residential element of the property gain. Non-residential and other gains can continue to be reported through the 'Realtime Reporting' service or on the self-assessment return.
The CGT rates for residential property gains remain unchanged at 18% for basic rate taxpayers and 28% for higher rate taxpayers.
All other CGT rates and allowances also remain unchanged, with the main rate of CGT remaining at 10% for basic rate taxpayers and 20% for higher rate taxpayers.
Our Rates Tables have been updated to reflect the 2022-23 rates and allowances.