Capital gains tax on property, planned and filed

Selling a rental, a second home or an inherited house usually means capital gains tax, and the gain must be reported and paid within 60 days of completion. We plan disposals before they happen, claim every relief and file on time, for a fixed fee.

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Property capital gains tax and 60-day reports, illustration 5

Property Accountant Woolwich

The biggest CGT savings happen before exchange, not after. Talk to us before you instruct the agent.

Property and landlord tax. It is all we do

100%

Specialist services for property owners

Based on Woolwich New Road, covering SE London

SE18

Fees fixed and agreed before work starts

Fixed

how it runs

Three stages, one fixed fee

From the first estimate to the filed report, this is one engagement.

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A pre-sale estimate and the planning conversation: timing, transfers and losses, while they can still help.

Included in the fixed fee

The gain calculated with every cost and relief, and the standalone return filed inside the deadline.

Included in the fixed fee

The disposal on your self assessment where needed, and a plan for whatever you sell next.

Included in the fixed fee

How the 60-day rule works

Since April 2020, UK residents disposing of residential property at a gain must send HMRC a standalone property return and pay the tax within 60 days of completion. It sits outside the normal self assessment cycle, which is exactly why so many sellers miss it. Late returns collect penalties and interest on top of the tax.

Reliefs that change the answer

If the property was ever your main home, private residence relief covers the years you lived there plus the final months of ownership. Costs of buying, improving and selling reduce the gain, and losses from other assets can be set against it. On inherited property the starting point is the value at death, not the original purchase price, which often makes the taxable gain far smaller than feared.

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FAQs

Straight answers to the questions we hear most.

Do I pay CGT when I sell my own home?

Usually not. Private residence relief normally covers a property that has been your only or main home throughout. Tax tends to arise where it was let, used for business, or where you own more than one home.

What happens if I miss the 60-day deadline?

An automatic late filing penalty, growing with the delay, plus interest on unpaid tax. If it is already missed, filing quickly limits the damage and we can prepare the return within days.

How does CGT work on an inherited property?

The gain is measured from market value at the date of death. Sell soon after probate and the gain is often small. Keep it and let it, and later growth is taxable, so plan early.