Capital gains tax on UK land and property – extension of payment and filing deadlines

The measure

The time limit for making capital gains tax returns and associated payments on account when disposing of UK land and property is extended from 30 days to 60 days. 

UK residents are only required to file a return where the disposal results in capital gains tax, while non-UK residents are required to file a return even if there is no capital gains tax to pay. 

Legislation will also be introduced to clarify that where a gain arises to a UK resident from mixed use property (i.e. commercial and residential), only the proportion of the gain that is the residential property gain needs to be reported within the earlier time limit of 60 days. 

Who will be affected?

Individuals, trustees and personal representatives, who sell or otherwise dispose of interests in UK land and property. The measure extending the filing and payment deadline applies equally to UK residents and non-UK residents. 

When will the measure come into effect?

The 60-day filing and payment deadline will apply for disposals that legally complete on or after 27 October 2021.