Capital Gains Tax / Lesson 6 of 7
The 60 day property deadline
Completed in March, return due next January. You are already late.
The short answer
- ✓ A taxable gain on UK residential property must be reported and paid within 60 days
- ✓ The disposal is reported again on the annual return, with the payment credited
- ✓ No report is needed where no CGT arises
- ✓ You need a separate CGT on UK property account, which takes time to set up
Two reports, one sale
Where a UK residential property disposal produces CGT, you must report it and pay within 60 days of completion, separately from your annual return. The same disposal is then reported again on the tax return, where the earlier payment is credited.
Completion 15 March
60-day report and payment by 14 May <- the one people miss
Self Assessment return by 31 January following
Same disposal reported again
The May payment is creditedWhen it applies, and when it does not
| Situation | 60 day report? |
|---|---|
| Rental property sold at a taxable gain | Yes |
| Second home sold at a taxable gain | Yes |
| Gain fully covered by the annual exempt amount | No |
| Disposal at a loss | No |
| Home fully covered by Private Residence Relief | No |
| Shares, crypto or other non-property assets | No, annual return only |
Why it is missed so often
It is a relatively recent requirement, and it contradicts a lifetime of habit. Anyone who sold property under the old rules knows the gain went on the annual return. Nothing in the conveyancing process reliably prompts you, and solicitors are not universally in the habit of raising it.
Estimating
Within 60 days you may not know your final income for the year, and your income decides whether the gain is taxed at 18% or 24%. You are expected to make a reasonable estimate, pay on that basis, and settle up on the annual return.
People delay precisely because they want the exact figure. That instinct is backwards: a reasonable estimate filed on time beats an exact figure filed late.
The bit HMRC does not spell out
You need a Capital Gains Tax on UK property account to file, which is separate from your ordinary Personal Tax Account and has to be set up first. If you use an accountant, they cannot act until you have created that account and authorised them through it.
That setup step has consumed a meaningful part of the 60 days for a great many people who thought they had plenty of time. Create the account as soon as a sale is agreed, not when the deadline approaches.
Common mistakes
- Waiting for the annual return. The 60 day report comes first.
- Delaying for an exact figure. Estimate reasonably and correct later.
- Assuming the solicitor handles it. The obligation is yours.
- Leaving the account setup late. It eats the deadline.
Try it on your own numbers
This is the same calculator as the full tool page, using 2026/27 rates.
Your sale
UK residential property gains must be reported and paid within 60 days of completion.
Sale price minus purchase price, buying/selling costs and any qualifying improvements.
Sets how much of the gain is taxed at 18% vs 24%.
Your 60-day deadline
Pick your completion date to see the deadline.
- Taxable gain
- Less annual exempt amount
- Taxed at 18%
- Taxed at 24%
- CGT to report & pay
What to do
- Sign in to (or create) a HMRC "Capital Gains Tax on UK property" account.
- Report the gain and pay the tax within 60 days of completion.
- Still include it in your Self Assessment return if you file one.
Estimate only. Assumes residential property and full annual exempt amount available; Private Residence Relief may reduce the gain.
Key takeaways
- ✓ A taxable gain on UK residential property must be reported and paid within 60 days
- ✓ The disposal is reported again on the annual return, with the payment credited
- ✓ No report is needed where no CGT arises
- ✓ You need a separate CGT on UK property account, which takes time to set up
Check you have got it
3 quick questions. No score is kept, and you can change your mind.
1. You complete a rental property sale on 15 March with a taxable gain. When must you report?
2. You sold shares at a large gain. Does the 60 day rule apply?
3. What often eats into the 60 days unexpectedly?
Sources
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