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UK resident individuals, trustees and personal representatives of deceased persons who sell or otherwise dispose of interests in UK residential property that results in a CGT liability are required to deliver a CGT return to HMRC and make a payment on account of the CGT due within 30 days of the completion of the disposal.

Non-UK residents are required to deliver similar returns in respect of any direct or indirect disposal of UK land, irrespective of whether tax is due or the type of property and make payments on account of CGT (where due).

In May 2021 the Office of Tax Simplification made recommendations on CGT including that the government should consider extending the 30-day deadline to 60 days.

The Budget implements this recommendation and extends the Capital Gains Tax payment / reporting on UK property disposal deadline from the current 30 days after completion to 60 days. 

This will affect disposals that complete on or after 27 October 2021.