Capital Gains and Stamp Duty – changes to deadline for filing and payment Capital Gains

The government has announced that it intends to bring forward the date for payment of CGT on gains arising from the disposal of residential property. Instead of the current due date of 31 January following the tax year of disposal, tax will be payable within 30 days of completion. This payment date will apply to gains realised with effect from April 2019. Individuals who benefit from the principal private residence exemption will not be affected.

This accelerated payment date will bring the payment date applying to UK residents in line with that applying to non-residents who sell UK residential property.

Buy-to-let landlords with high borrowings who are intending to reduce their property portfolios in response to the restriction on interest deduction from April 2017 may need to plan their disposals carefully.

Stamp duty 

The government announced that it will consult on changes to the stamp duty filing and payment process, including bringing forward the deadline for paying and filing a return to within 14 days after the effective date.  It is envisaged that the changes will come into effect in the 2017-18 tax year.

The current deadline for payment of stamp duty and submission of the return is within 30 days of the effective date

Glen Salt

Glen Salt
Commercial Property Team
0113 227 9253


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