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capital gains tax (cgt)  •  Property  •  Tax Planning

Update: 30 days to pay investment property CGT

By RJP LLP on 8 September 2020

The sale of a UK residential property which gives rise to a Capital Gains Tax liability now needs to be reported to HMRC (and the tax paid) within 30 days of completion of the sale.

RJP are able to complete and submit the calculations and disclosure to HMRC, however the client must first have setup their own Government Gateway user ID and password.

They will then need to register for a ‘Capital Gains Tax property account number’ which will need to be given to RJP.  Once we have the account number we can then request agent authority to complete the submission on the client’s behalf.

We have outlined the taxpayer's obligations now as a result of these new rules in an earlier blog: read more here

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I wanted to write and express our gratitude for your help and hard work in getting Probate through and settling all the taxes. I am so pleased that we selected RJP, as your professional help and updates throughout this process have been invaluable. If at any time in the future Probate assessment may be needed, you will be our first port of call. Once again, many thanks to the whole team.

Dan Cook, Probate client
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I just wanted to drop you a short note to say how grateful I am for the support that RJP has provided over the past 4 weeks while our Financial Controller was away. I struggle to comprehend how much work your staff get through during their weekly visits and they are always a pleasure to have around the office.

I Evans, CFO, Mobliciti
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Just a quick e-mail from me to thank you for achieving the target for producing the draft accounts – it is very much appreciated and gives a first class impression of your firm. Many thanks.

J Stanfield, Chairman, BBS Actuaries Ltd
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I would like to take this opportunity to thank you very much for the amazing job you have done navigating us through this whole process. My family and I also really appreciate the care and compassion demonstrated by you and your team in every dealing. Our thanks to everyone.

M Goldsmith, Probate Client
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RJP provide our company with a complete service which takes the stress and strain away from the day to day running of our accounts! Their understanding of our business and their patience and advice is invaluable.

Outsourcing Client
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60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.

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