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CGT on UK property service – 12 points advisers need to know

06 September 2022 / Helen Thornley
Issue: 4855 / Categories: Comment & Analysis
93148
ATT to the rescue

Key points

  • The CGT for property reporting service is a standalone system not integrated with existing HMRC self-assessment systems which causes issues.
  • For taxpayers who come to realise they have overpaid CGT on a property return there are various approaches to reclaim the money.
  • If a self-assessment has been filed but a necessary property return has been missed the property return must be filed on paper.
  • HMRC has confirmed that it does not charge daily penalties for late property returns.
  • Paper forms are not available online and agents have to call HMRC to request them.
  • If you are experiencing problems with the service please report them on the agent forum or to your professional body representative.

Ever since the extension of in-year property reporting rules to UK residents in April 2020 (the so called ‘60-day’ rules) we have received a steady stream of...

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