CGT Return: Meet the 60-Day Deadline Effortlessly with Ease

Are you a UK resident looking to navigate the complexities of Capital Gains Tax (CGT) returns? Our team of experienced professionals is here to help you and ensure compliance with HMRC regulations.

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What You Need to Know About CGT Return (60-days)

If you’ve disposed of residential property, understanding your obligations regarding CGT is essential. The CGT Return allows you to report and manage any tax liabilities associated with the sale or disposal of residential properties in the UK.

Applicability

The 60-day CGT return rule typically applies to taxpayers who regularly file their personal tax returns, including individual taxpayers, joint owners of residential properties, partners in general partnerships and limited liability partnerships (LLPs), trustees of trusts, etc.

Deadline and Payment

The deadline for filing CGT return is within 60 days of the completion of the disposal. The 60-day countdown begins from the completion date, not the exchange date. The payment is also the same as for the CGT return and any delays may lead to penalties and interest being imposed.

Scope

Any disposal of UK residential properties falls within the scope of the 60-day rule, which encompasses various forms such as sale, gift, grant of lease out of residential properties, transfer via deed or declaration of trust, and transfer through any other means.

Annual Exemption

In the UK, individuals have an annual exemption for CGT of £12,300 for 2022/23 which has been reduced to £6,000 for 2023/24. This means that each tax year, you can make gains up to the annual exempt amount without incurring any CGT liability.

Don't let the complexities of CGT overwhelm you!

Why Choose us for your CGT Return?

We are specialist accountants and tax advisers for your property business! The service delivered by our qualified and experienced team is tailored as per your needs. Our accomplished tech-embedded service with exceptional property tax insight makes us stand out from the rest.

Expertise and Experience

Our team of qualified tax professionals specialises in CGT matters. We have an in-depth understanding of the UK tax regulations and can provide accurate advice tailored to your specific situation.

Tailored Solutions

Filing a CGT return can be complex, but we’re here to simplify the process for you. Our experts will guide you through every step, ensuring you understand your obligations, available deductions, and any reliefs you may be entitled to.

Timely Service

CGT returns must be submitted within 60 days of the disposal of the asset. With our prompt service, you can rest assured that your CGT return will be filed accurately and on time, avoiding any penalties or unnecessary stress

Compliance and Accuracy

We strive to optimise your tax position by exploring all eligible deductions and reliefs. We also provide proactive tax planning advice to ensure you stay ahead of potential tax implications and make informed financial decisions.

Proactive Tax Planning

By entrusting your CGT return to us, you can focus on what you do best while we handle the tax compliance aspect. We take pride in providing a reliable and efficient service, giving you peace of mind during tax season.

Cost-Effective Solutions

Our services are competitively priced, providing excellent value for the expertise and quality we offer. We work with you to find the most cost-effective solutions that meet your accounting needs without compromising on the quality of service.