CGT 60-Day Reporting Deadline

CGT 60-Day Reporting UK Residential Property 2026 � Report and Pay Deadline, HMRC UK Property Account, Penalties and Self-Assessment Reconciliation

UK residential property disposals generating a chargeable gain must be reported to HMRC and estimated CGT paid within 60 days of COMPLETION (not exchange of contracts). Introduced by Finance Act 2019 Schedule 2 (TCGA 1992 ss.12ZA-12ZM); extended from 30 to 60 days from 27 October 2021. Report via HMRC's UK Property Account (Government Gateway). CGT rates: 18%/24% (basic/higher rate taxpayers from 6 April 2024). Annual CGT exempt amount: �3,000 from 6 April 2024. Late penalties: �100 immediately; �300 at 6 months; �300 at 12 months; daily penalties. Self-assessment reconciles the final liability. Trustees and personal representatives also subject to 60-day rule. Does NOT apply where full PPR covers the entire gain.

9 min readUpdated 7 June 2026Last reviewed: 17 May 2026CGT60-day-reportingcapital-gains-taxUK-property-account

What triggers the 60-day reporting obligation

The 60-day obligation is triggered when a UK resident individual (or trustee or personal representative) disposes of UK residential property AND the disposal gives rise to a chargeable gain after reliefs. Does NOT apply where: full PPR covers the entire gain; the disposal results in a capital loss only; or the property is outside the UK (overseas property gains are reported via annual self-assessment only).

Filing via the HMRC UK Property Account

The return is filed online via HMRC's UK Property Account, accessed through the Government Gateway. The taxpayer enters disposal details, acquisition cost, allowable expenses, reliefs, and estimated net gain. A payment reference is generated for the CGT payment on account. Agents can file on behalf of clients using the agent services account.

CGT rates, payment on account and the annual exempt amount

CGT rates on residential property: 18% (basic rate taxpayer); 24% (higher or additional rate � where total income including gain exceeds �50,270). Annual CGT exempt amount: �3,000 from 6 April 2024. The 60-day payment on account uses estimated rates � the actual tax is reconciled via annual self-assessment (overpaid: refunded with interest; underpaid: collected via SA with potential penalties).

Late filing penalties and interest

Penalties for late 60-day returns: �100 immediately from day 61 after completion; �300 (or 5% of tax due if greater) at 6 months; �300 (or 5% of tax due if greater) at 12 months; daily penalties of �10 per day for 90 days to 6 months late. Interest on late CGT payments at Bank of England base rate + 2.5%. Trustees and personal representatives are also subject to the same 60-day obligation and the same late penalties.

Frequently asked questions

When does the 60-day CGT clock start?+

The 60-day clock starts on the date of COMPLETION � the date on which legal title transfers to the buyer (Land Registry registration in England and Wales; delivery of disposition in Scotland). It does NOT start from the date of exchange of contracts.

What are the penalties for missing the 60-day CGT deadline?+

Late penalties: �100 immediately from day 61; �300 (or 5% of tax due if greater) at 6 months; �300 (or 5% of tax due if greater) at 12 months; daily penalties of �10 per day for 90 to 6 months late. Interest also accrues on late CGT payments at HMRC's current rate (Bank of England base rate + 2.5%).

What CGT rates apply to UK residential property in 2026?+

CGT rates on UK residential property: 18% (basic rate taxpayer � where total of taxable gain plus other income falls within the basic rate band up to �50,270); 24% (higher or additional rate taxpayer). Annual CGT exempt amount: �3,000 from 6 April 2024. The 60-day payment uses the estimated rate based on anticipated income for the year.

Does the 60-day CGT rule apply if PPR covers the full gain?+

No. The 60-day reporting obligation only arises where the disposal results in a chargeable gain after reliefs. If Private Residence Relief (PPR) covers the entire gain, no chargeable gain arises and no 60-day return is required. If PPR covers only part of the gain, the remaining gain is chargeable and the 60-day obligation applies.

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Hand-picked by topic overlap with this guide.

UK-Wide � Trading Property: Disposal Profit = Income Tax (Individuals) or Corporation Tax (Companies); No PPR; No Lettings Relief; NIC May Apply � Investment Property: Disposal Gain = CGT (18%/24% from 6 April 2024); PPR and Lettings Relief Available; 60-Day Report Required � Badges of Trade (HMRC): Subject Matter; Frequency; Length of Ownership; Supplementary Work; Motive; Financing; Circle of Trade � Developer Trap: Serial Buy-Improve-Sell = Trading Even If Initial Intention Was Investment � IHT BPR (s.104 IHTA 1984): Trading Property Business = 100% BPR; Investment Business FAILS s.105(3)

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Whether property is held as a trading asset or a capital investment determines tax treatment entirely. Trading property (stock-in-trade of a property dealing or developing business): profits on disposal = income tax (individuals � ITTOIA 2005) or corporation tax (companies � CTA 2009) at full marginal rates; no principal private residence relief (TCGA 1992 s.222); no lettings relief (s.223); no annual CGT exempt amount; NIC may apply on self-employed trading profits; trading losses can offset other income (ITA 2007 s.64). Investment property: disposal gains = CGT (18% basic rate / 24% higher rate for residential from 6 April 2024); PPR and lettings relief available; 60-day CGT report and payment on account required. HMRC uses badges of trade to classify: subject matter; frequency of similar transactions; length of ownership; supplementary work carried out; motive at purchase; financing used; circle of trade. No single badge is conclusive. The developer trap: serial buy-improve-sell activity may be classified as trading even if initial intention was investment � intention is relevant but not determinative (HMRC v Smallwood [2010] UKUT 82). IHT Business Property Relief (BPR): genuine trading property business qualifies for 100% BPR (IHTA 1984 s.104); property investment business (wholly or mainly holding investments � s.105(3)) does NOT qualify. UK-wide application (income tax and CGT are reserved matters); LBTT (Scotland); LTT (Wales) on acquisitions.

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