60 Day CGT Report

Taxeezy provides: the preparation and filing of UK Self-Assessment tax returns (original and amended), UK Property CGT reports, NRL registration, UTR registration and Tax Consultancy services.

When UK property or land (or property related shares in some cases) is sold or disposed a report is required to be received by HMRC within 60 days of completion. The report details the financial information involved with a disposal and calculates the final gain (or loss), whereupon any resultant tax has to be paid. UK residents only have to file the report if the calculation results in a tax liability, however, non-UK residents must file the report in all instances of disposal.

When there is a requirement to file a 60-day CGT report, this has to be done via an HMRC UK property account that identifies you, details any capital gains tax owing and enables payment of the tax. The account application can be made online direct to HMRC, or Taxeezy can deal with this for you as component of the 60-day CGT report service, if you do not already have an account.

The fee for the principal service, being tax return preparation and filing, is £130.00 inclusive and is fixed, other than if special circumstances apply whereby a £25.00 increment is added for each circumstance. These circumstances are detailed on the 'Fees' page on the outside of the website. Although, for this service, payment details are taken as component of the application process, payment is not physically taken until your tax return is prepared and available to view.

Fees for other services are payable at the point of application and these are:

• Taxeezy Doctor - £99.00
• NRL Application - £50.00
• UTR Application £25.00
• 60 Day CGT Report - £99.00

Other service availability, together with fee quotation, on enquiry.

Payment for all services is principally made with a card using the Stripe or PayPal interface within the website, however, in the event of difficulty, other forms of payment method can be arranged with your dedicated tax manager.

We can help everybody that needs to file a UK tax return.

• First-time filers
• Tax relief/refund claims
• Self-employed
• Freelancers & contractors
• Investors (property, forex, crypto etc.)
• Construction workers (CIS)
• High earners (£100K+)
• Landlords (inc. Airbnb hosts)
• Expats
• Couriers, riders or drivers

The requirement to file a 60 Day CGT Report differs based on your residency status at the time of disposal.

UK Residents

The requirement to report and pay capital gains tax (CGT), via a 60 Day CGT Report, on disposals of UK residential property applies to disposals made on or after 6th April 2020. However, the 60 Day CGT Report is only required where tax is due. There are specific rules for reporting CGT on property disposals when it comes to self-assessment and we can advise you of your reporting requirements when preparing your self-assessment tax return.

UK Non-residents

The requirement to report and pay capital gains tax (CGT) applies to disposals made on or after 6th April 2020. However, unlike UK residents, UK non-residents must report disposals via the 60 Day CGT Report even where no tax is due. Additionally, the scope of reporting is wider for UK non-residents and included in the requirement to report for UK non-residents are:

• residential UK property or land (land for these purposes also includes any buildings on the land);
• non-residential UK property or land;
• mixed use UK property or land; and
• rights to assets that derive at least 75% of their value from UK land (indirect disposals).

Get professional help with Capital Gains Tax from a UK based accredited accountant.

• A Capital Gains Tax specialist works on your report
• Professional help to claim allowable expenses and available tax reliefs
• Completed 60 Day CGT Report for you to review and approve
• Full calculation of your capital gains/losses
• Your 60 Day CGT Report filed to HMRC
• Online support from your accountant throughout the process
• Easily Accessible Records saved in your Taxeezy account for your reference

To create a CGT UK Property account with HMRC:

Step 1 - Click on the following link:

https://www.tax.service.gov.uk/capital-gains-tax-uk-property/start/report-pay-capital-gains-tax-uk-property?_ga=2.250622022.1576755896.1627898870-177552744.1617291051#beforeYouStart
Click 'Start' button and it will take you to Government Gateway sign in page.

If you already have a Government Gateway ID go to Step 2.

If you do not already have a Government Gateway ID go to Step 3.

Step 2 – If already have Government Gateway ID

1. Sign in using your Government Gateway ID. You will be taken to Report and pay Capital Gains Tax on UK property page.
2. Check your contact details are correct, click 'Create account' and follow the instructions in Step 4.

Step 3 – Creating your Government Gateway ID

1. Click 'Create sign in details'.
2. Enter your email address and click ‘Continue’.
3. You will receive a code, enter this in the box provided and click 'Confirm'.
4. The webpage should show 'Email address confirmed'. Click 'Continue'.
5. Enter your full name and click 'Continue'.
6. Create a password and click 'Continue'.
7. The webpage should show you your Government Gateway ID, print/save this page and keep it in a safe place. Click 'Continue'. This will take you to creating your UK Property Account. Go to Step 4.

Step 4 – Creating your UK Property Account

1. Choose type of account. Click on 'Individual' and 'Continue'.
2. The webpage will show 'You need to set up additional security'. Click 'Continue'.
3. 'How do you want to get access codes?'. Select the option most suitable for you and follow the on-screen instructions until security set-up is complete.
4. The webpage will show 'You’ve set up additional security'. Click 'Continue'.
5. The webpage will show 'We need more details'. Click 'Continue'.
6. The webpage will show 'Do you have a National Insurance number'. Please click 'No' regardless of whether you have an NI number as non-residents may not be able to complete the security questions that follow.
7. You can enter your UTR number on the next page. Click 'Continue'.
8. The webpage will show 'Do you have a Self Assessment Unique Taxpayer Reference?'. Click 'Yes' and 'Continue'.
9. Enter your UTR number and Name. Click 'Continue'. Please check the details shown on screen are correct, you can make changes as necessary. Then click 'Create account'.
10. The webpage will show your Capital Gains Tax on UK property account number, print/save this page and keep it in a safe place. Click 'Go to account'.
11. The set-up process is complete, and you now have a UK property account to report UK property disposals. Click 'Sign Out'.