60 Day CGT Report

Taxeezy provides a wide range of UK tax compliance and advisory services for individuals, landlords, self-employed individuals and those with UK or overseas tax matters.

Our services include:

• UK Self Assessment tax return preparation and filing, including original and amended returns
• Making Tax Digital (MTD) quarterly submissions and annual filing obligations
• 60-Day UK Property Capital Gains Tax (CGT) Reports
• Non-Resident Landlord (NRL) Scheme applications
• UTR registrations
• Taxeezy Doctor – tax consultancy and one-to-one tax advice
• HMRC enquiries
• Property Let Disclosures
• R43 Claims
• P85 Forms
• R43M (SED) Claims
• Voluntary Class 3 National Insurance Contributions (NIC) applications
• Other ad hoc UK tax compliance and advisory services

If the service a customer requires is not listed above, they can send an enquiry to [email protected], and our team will confirm whether we can assist and provide a quotation where applicable.

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 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

Our fees are transparent and, where a fixed fee applies, you will know the cost before we begin any work.

The fee for our principal service, Self Assessment tax return preparation and filing, is £130.00. This is a fixed fee for a standard tax return. Where special or more complex circumstances apply, we will provide an additional fee quotation before any additional work is carried out.

Our current service fees are:

• Self Assessment Tax Return – £130.00
• Taxeezy Doctor – £99.00
• Non-Resident Landlord (NRL) Application – £50.00
• UTR Application – £25.00
• 60-Day Capital Gains Tax (CGT) Report – £99.00
• MTD Quarterly Submission – £50.00 per quarterly submission, or £200.00 for the full year’s filing obligations
• R43 Claim – £99.00
• P85 Form – £99.00
• R43M (SED) Claim – £130.00
• Voluntary Class 3 National Insurance Contributions (NIC) Application – £50.00
• HMRC Enquiries, Property Let Disclosures and other specialist services – quoted on enquiry based on the nature and complexity of the work required

Payment is required upfront for all services before work commences.

Payment can be made securely by debit or credit card through the Stripe or PayPal payment facilities available on our website. If a customer experiences any difficulty making payment online, they can contact us and the team can assist with alternative payment arrangements where appropriate.

For services requiring an individual quotation, we will confirm the scope of work and applicable fee before proceeding.