Selling a rental property? 🏠 Tax now due within 60 days!
Updated: Nov 3
Selling a rental property in the near future?
Capital Gains Tax (CGT) is now payable within 60 days of exchanging contracts for the sale of a residential rental property. In addition a standalone online CGT Return must be completed.
So... if you’re planning on selling a property – please let us know ASAP.
Background info: CGT standalone Returns were first introduced from 6 April 2020 with a 30 day deadline. This was extended to 60 days at the Autumn Budget held 27 October 2021.
Would you like help to pay less tax? Feel free to get in-touch or check-out our related posts 👇.