What is 60-Day Capital Gains Tax Reporting?
Since 2020, individuals and trustees must report taxable gains on UK residential property sales within 60 days of completion using HMRC’s online Capital Gains Tax account. This is in addition to reporting the transaction on the self-assessment return.
Who Must Report?
You must file a 60-day CGT return if:
- You sell, gift or transfer a UK residential property, and a CGT charge arises.
- You have not lived in the property for the entire ownership period.
- You own more than one property (married couples/civil partners can have only one main home).
- Part of the property was used for business or rental purposes.
You do NOT need to report if:
- The disposal is fully covered by Principal Private Residence Relief.
- The property is transferred to a spouse/civil partner.
How Much Capital Gains Tax Will I Pay?
CGT rates for residential property:
- 18% for basic rate taxpayers
- 24% for higher and additional rate taxpayers
Your actual rate depends on:
- total taxable income
- size of gain
- available reliefs (PPR, losses, annual exemption)
How to Report the Gain?
The gain must be reported through HMRC’s online CGT on UK Property account. You can authorise Henderson Loggie to submit on your behalf. HMRC will issue a payment reference, and the tax must be paid within the same 60-day deadline.
Missed Deadline?
If you miss the 60-day deadline:
- £100 initial penalty
- Additional penalties if the return remains outstanding
- Interest charged on late tax payments
Our Fees
Our Private Client Tax team provides a full CGT reporting service. Fees from: £500 + VAT per property (discounts for multiple).
Includes:
- calculating the gain
- identifying reliefs
- preparing & submitting the 60-day return
More complex cases may require a tailored quote.
Capital Gains Tax FAQs
You generally do not need to file a 60‑day return for your main residence if it is fully covered by Private Residence Relief (PRR). However, if only part of the gain qualifies for PRR – for example, if you’ve let out a room, used part of it for business, or there were periods when you did not live there – you may still have a reporting requirement. We can help you confirm whether full PRR applies.
Yes. We handle the entire process from start to finish. This includes calculating the capital gain, preparing all required documentation, and submitting the 60‑day return directly to HMRC on your behalf. We also ensure the return is filed accurately and within the deadline, helping you avoid potential penalties or interest charges.
To calculate your capital gain and prepare your 60‑day report, we will ask you for:
- Purchase and sale contracts
- Completion and exchange dates
- A schedule of capital improvements (e.g., extensions, renovations)
- Your occupation history for the property
- Any letting periods
- Selling costs, such as estate agent and solicitor fees
- Any previous capital gains tax claims or elections touching the property
Providing full and accurate information helps ensure your tax position is calculated correctly.
You may still be required to file a 60‑day return if the disposal falls within the residential property reporting rules – even if the sale results in a loss. Reporting the loss is beneficial, as it allows you to carry it forward and offset it against future capital gains, reducing potential tax liabilities.
Our Capital Gains Tax Team
Lucy Crow
Tax Director
I am Chartered Tax Advisor qualified and have worked in tax for over 12 years, specialising in personal tax. I work with a wide range of personal tax clients, from small sole traders to high net worth individuals and partnerships. I advise clients on all aspects of their personal tax affairs, from the preparations of their tax returns to advice on tax planning and capital gains tax.
I am also an affiliate member of STEP (Society of Trust and Estate Practitioners) and works closely with clients and their families on Inheritance tax planning. This ranges from a simple review to look at the potential inheritance tax through to tax planning and retirement planning as well as Trusts and Estate planning and administration.
I work with many clients in the Agricultural & Rural sector ranging from small farms to large estates. In this area, I have experience with all taxation issues that can arise from the day to day income tax on farms and estates to the inheritance tax and succession planning
Edward Marriage
Tax Manager
As a tax manager at Henderson Loggie, one of Scotland’s leading independent accountancy firms, I provide tax advisory and compliance services to a diverse portfolio of clients across various sectors and locations.
I am a Chartered Tax Adviser (CTA) with over 9 years of experience in tax accounting, consulting, and management. I have a strong track record of delivering high-quality tax solutions, managing complex projects, and leading and developing teams. I am passionate about helping clients achieve their tax objectives, while adhering to the highest ethical and professional standards.
