The 60-day CGT reporting requirement applies to disposals of UK residential property (defined as a dwelling used or suitable for use as a dwelling — including let property, second homes, inherited property, and properties where PPR applies for only part of the ownership period) where a chargeable gain arises. The obligation does NOT apply where the disposal generates no chargeable gain — for example, where full Private Residence Relief (PPR) applies to the entire gain; where the gain is fully covered by the annual CGT exempt amount (£3,000 from 6 April 2024, reduced from £6,000 in 2023/24 and £12,300 in 2022/23); or where the disposal results in a capital loss rather than a gain.
The 60-day window begins on the date of legal completion — the date on which the title to the property legally transfers to the buyer (which is the date of registration at Land Registry, or in Scotland the date of delivery of the disposition / recording in the Registers of Scotland). For most residential property sales in England and Wales, completion is a discrete date that can be identified precisely from the transfer document. Landlords who miss the 60-day deadline face automatic late filing penalties of £100 from day one — penalties escalate at 6 months and 12 months. Interest on any late payment also accrues at HMRC's current rate.
The 60-day CGT reporting obligation, HMRC UK Property Account, payment on account, penalties and self-assessment reconciliation
The complete framework for the 60-day CGT reporting and payment obligation for UK residential property disposals:
- What triggers the 60-day obligation, who it applies to and what is reported: The 60-day CGT reporting obligation is triggered when: (a) a UK resident individual (or trustee, or personal representative of an estate) disposes of UK residential property; AND (b) the disposal gives rise to a chargeable gain after reliefs and exemptions. UK residential property for this purpose means: any property used or suitable for use as a dwelling — including buy-to-let properties; second homes; holiday lets; inherited properties; properties where PPR applies for only part of the ownership period (e.g., properties that were once a main home but have since been let). The obligation does NOT apply in the following circumstances: (i) FULL PPR COVERS THE ENTIRE GAIN — where PPR applies to the entirety of the gain and leaves no chargeable amount (e.g., selling a property that was the owner's main home throughout the entire period of ownership and for the final 9 months — the final 9-month deemed occupation period under TCGA 1992 s.223(3)); (ii) CAPITAL LOSS — where the disposal results in a capital loss (no gain, no 60-day return required, though the loss should still be reported via self-assessment to crystallise it for offset against future gains); (iii) CGT ON A FOREIGN RESIDENTIAL PROPERTY by a UK resident — where the property is outside the UK, the 60-day rule does NOT apply (gains on overseas property are reported via annual self-assessment only). The 60-day CGT return covers: the disposal consideration (sale price); the acquisition cost (purchase price plus allowable costs); allowable enhancement expenditure (capital improvements); selling costs (estate agent fees; solicitor's fees; CGT survey if applicable); any reliefs available (PPR for the proportion of ownership covered by main residence; letting relief — limited since 6 April 2020 to shared occupation with the vendor; gift holdover relief if applicable; incorporation relief if applicable); the estimated net chargeable gain; and the estimated CGT liability based on the taxpayer's anticipated income for the year. Who must file a 60-day return: (a) UK resident individuals — the individual disposing of the property (or the individual's agent); (b) UK resident trustees — trustees of trusts that dispose of UK residential property; (c) Personal representatives — executors and administrators of estates who dispose of UK residential property during the administration of the estate. Non-resident individuals also have a 60-day reporting obligation for UK residential and non-residential property disposals — but this is under a separate non-resident CGT regime (HMRC's NRCGT return) and the rules differ slightly.
- How to file the 60-day return, CGT rates, payment on account, late penalties and self-assessment reconciliation: Filing the 60-day return — HMRC UK Property Account: the 60-day CGT return is filed online via HMRC's UK Property Account, accessed through the Government Gateway (at tax.service.gov.uk — search 'report and pay CGT on UK property'). The taxpayer (or their agent) logs in to the UK Property Account, creates a record for the disposal, enters the required information, and submits the return. A reference number (called the 'payment reference') is generated — the taxpayer uses this reference to make the CGT payment on account. Agents (e.g., accountants or tax advisers) can file on behalf of their client using the agent services account. The CGT payment on account: once the return is submitted, the taxpayer must make a payment on account of the estimated CGT liability within 60 days of completion. The payment is based on the estimated CGT liability for the tax year — using the CGT rates applicable for UK residential property at the time of disposal: from 6 April 2024: 18% (basic rate taxpayer — where the gain plus the taxpayer's non-gain income falls within the basic rate band of £37,700); 24% (higher or additional rate taxpayer — where the gain and/or the taxpayer's non-gain income exceeds the basic rate band threshold of £50,270 — personal allowance £12,570 + basic rate band £37,700). From 30 October 2024 (Autumn Budget 2024): the CGT rates on residential property are unchanged at 18%/24% (the Budget 2024 increased the rates on other asset classes from 10%/20% to 18%/24% — but residential property was already at 18%/24%). The annual CGT exempt amount: £3,000 (from 6 April 2024; reduced from £6,000 in 2023/24 and £12,300 in 2022/23). The exempt amount is deducted before calculating the taxable gain. Where the taxpayer has made multiple disposals in the same tax year, the estimated payment must account for all anticipated gains in the year — the UK Property Account allows for this. Late filing penalties: if the 60-day return is not filed within 60 days of completion, automatic penalties apply: £100 immediately; £300 (or 5% of the tax due if greater) at 6 months from the completion date; £300 (or 5% of the tax due if greater) at 12 months from the completion date; daily penalties of £10 per day for returns between 3 and 6 months late; HMRC also charges interest on the amount of CGT paid late (currently Bank of England base rate + 2.5%). Self-assessment reconciliation: the 60-day return and payment is an advance preliminary payment — the final CGT liability is computed via the taxpayer's annual self-assessment tax return (SA100; SA108 — capital gains summary). In the self-assessment return, the taxpayer enters the disposal details, the actual gain, and the actual reliefs applicable. If the taxpayer has overpaid via the 60-day payment on account, the excess is repaid (with interest from 31 January following the tax year). If the taxpayer has underpaid, the balance is collected via self-assessment (with interest and potential penalties if the return is late). Trustees and PRs: trustees and personal representatives must also file a 60-day return and make a payment for disposals of UK residential property — the return is filed via the UK Property Account in the same way as for individuals
Frequently asked questions
When does the 60-day CGT reporting clock start — completion or exchange?+
The 60-day clock starts on the date of COMPLETION — the date on which legal title to the property transfers to the buyer (the date of registration at Land Registry or, in Scotland, delivery of the disposition). It does NOT start from the date of exchange of contracts. The gap between exchange and completion can be several weeks, but the 60-day countdown begins only when completion occurs.
What are the penalties for missing the 60-day CGT reporting deadline?+
Late filing penalties apply automatically: £100 immediately from day 61 after completion; £300 (or 5% of the tax due if greater) at 6 months after completion; £300 (or 5% of the tax due if greater) at 12 months after completion; daily penalties of £10 per day for returns between 90 days and 6 months late. Interest also accrues on any CGT paid late at HMRC's current rate (Bank of England base rate + 2.5%). These penalties apply even where the eventual tax liability is relatively small.
What are the CGT rates on UK residential property in 2026?+
CGT rates on UK residential property disposals: 18% for basic rate taxpayers (where the total of the taxable gain plus the taxpayer's other income falls within the basic rate band of £37,700 — i.e., up to £50,270 total income including the gain); 24% for higher and additional rate taxpayers (where the total exceeds £50,270). These rates apply from 6 April 2024. The annual CGT exempt amount is £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 Private Residence Relief 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) applies to the entire gain (e.g., selling a property that was the owner's main home for the entire ownership period including the final 9 months of deemed occupation), no chargeable gain arises and no 60-day return is required. However, if PPR covers only part of the gain (e.g., the property was a main home for some years and then let), the remaining gain is chargeable and the 60-day obligation applies.
- Capital gains tax for landlords — rates, reliefs and annual exempt amount →
- Private Residence Relief (PPR) — main home exemption and letting relief →
- Lettings relief — shared occupation CGT relief post-April 2020 →
- Self-assessment tax return for landlords — SA100 and SA108 →
- Non-resident CGT — UK property disposals by overseas landlords →
- Gift holdover relief — deferring CGT on gifted property →