What Is A 60 Day CGT Report?
HMRC requires taxpayers to report and pay any tax due on a disposal of UK Land and Property within 60 days of completion. These disposals are reported on a 60 Day CGT Report. The report is filed using a standalone digital service developed by HMRC called a Capital Gains Tax on UK property Account.
Who Needs To File A 60 Day CGT Report?
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).
How It works
1. Register Free And Without Obligation
Log in, have a look around, check out the services we offer.
2. Select Our 60 Day CGT Report Service
And complete some simple questions. We’ll be ready to make a start on your report.
3. Make a payment of £99
Using our secure payment system.
4. We Match You With One Of Our CGT Specialists
One of our CGT Specialists will work on your report, ensuring that you are minimizing tax and are HMRC compliant.
5. We Submit Your 60 Day CGT Report To HMRC
Once you approve your report, your Taxeezy accountant will submit your report to HMRC for you.
What's The Cost?
We charge a one-off, flat fee of £99 per report.
- No monthly fees
- Fixed cost, no matter how complicated
- Price includes VAT
- No additional hidden costs
What's Included?
Get professional help 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
How to create a 'Capital Gains Tax UK Property Account' with HMRC
Click on the following link:
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
- Sign in using your Government Gateway ID. You will be taken to Report and pay Capital Gains Tax on UK property page.
- Check your contact details are correct, click 'Create account' and follow the instructions in Step 4.
Step 3 – Creating your Government Gateway ID
- Click 'Create sign in details'.
- Enter your email address and click ‘Continue’.
- You will receive a code, enter this in the box provided and click 'Confirm'.
- The webpage should show 'Email address confirmed'. Click 'Continue'.
- Enter your full name and click 'Continue'.
- Create a password and click 'Continue'.
- 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
- Choose type of account. Click on 'Individual' and 'Continue'.
- The webpage will show 'You need to set up additional security'. Click 'Continue'.
- '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.
- The webpage will show 'You’ve set up additional security'. Click 'Continue'.
- The webpage will show 'We need more details'. Click 'Continue'.
- 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. You can enter your UTR number on the next page. Click 'Continue'.
- The webpage will show 'Do you have a Self Assessment Unique Taxpayer Reference?'. Click 'Yes' and 'Continue'.
- 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'.
- 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'.
- The set-up process is complete, and you now have a UK property account to report UK property disposals. Click 'Sign Out'.