Clear support with 60 Day Capital Gains Tax returns
Practical help with Capital Gains Tax reporting for UK property disposals where a 60 day return is required, helping you understand the information needed and complete the reporting process clearly.
Property disposal reporting without unnecessary confusion
Selling or disposing of a UK property can sometimes create a Capital Gains Tax reporting requirement. Where the 60 day reporting rules apply, there can be a relatively short period in which to gather the information and complete the relevant return.
MB Accountants LTD can help review the details of the disposal, organise the information needed and prepare the relevant Capital Gains Tax figures for reporting.
We focus on making the process as clear as possible, explaining what records we need and helping you understand the figures before the return is completed.
Support from property disposal to CGT reporting
Circumstances where CGT reporting may need to be considered
The tax treatment of a property disposal depends on the individual circumstances. We can review the details and help you understand what reporting may be required.
Second Properties
Help reviewing the tax position when disposing of a property that is not simply your main home.
Rental Properties
Support where a property that has been rented or used as an investment is sold or otherwise disposed of.
Inherited Property
Help considering the relevant figures when disposing of a property that was previously inherited.
Other Property Disposals
Support where a disposal or transfer of UK property may create a Capital Gains Tax reporting requirement.
The details behind your Capital Gains Tax position
A CGT calculation can involve more than simply comparing the purchase and sale prices. The relevant information depends on the property and your individual circumstances.
Purchase details
Information relating to when and how the property was originally acquired.
Sale or disposal details
The relevant figures and dates relating to the property disposal.
Relevant costs
Certain costs connected with acquiring, improving or disposing of the property may need to be considered.
Your circumstances
How the property has been owned and used can affect the overall Capital Gains Tax position.
A clear process for preparing your 60 Day CGT return
We bring together the relevant property information, prepare the calculation and help you work through the reporting process.
Review the disposal
We start by understanding the property, the transaction and the circumstances surrounding the disposal.
Gather the relevant figures
We identify the purchase, disposal and other relevant information needed to prepare the calculation.
Prepare the CGT calculation
The relevant figures are brought together so the potential gain and tax position can be considered.
Complete the reporting
We explain the calculation and help complete the relevant 60 day Capital Gains Tax reporting.
From property disposal to completed CGT reporting
A simple process designed to help you deal with the reporting requirement clearly and without unnecessary delay.
Tell us about the property
Let us know what property has been sold or disposed of and the circumstances surrounding the transaction.
Send us the information
We explain what documents and figures are required so the calculation can be prepared.
We prepare the calculation
The relevant figures are reviewed and the Capital Gains Tax calculation is prepared.
Review and report
We explain the figures and help complete the relevant 60 day reporting process.
What information may be needed?
The exact documents depend on the circumstances, but having the relevant purchase and disposal information available can help the process move much more quickly.
Early action can make the process much easier
Where a 60 day Capital Gains Tax reporting requirement applies, it is helpful to start gathering the relevant information as soon as possible after completion of the property disposal.
Discuss Your Property DisposalGather records early
Locate the purchase, sale and relevant cost information as soon as possible.
Review the tax position
Understanding the circumstances early gives more time to identify the information needed.
Complete the reporting
Once the calculation is ready, the relevant property disposal reporting can be completed.
Your property disposal may also affect your Self Assessment
A 60 day property return and your wider annual tax reporting are separate considerations. Depending on your circumstances, details relating to the disposal may also need to be considered when your Self Assessment tax return is prepared.
Self Assessment Tax Returns60 Day CGT questions answered
What is a 60 Day CGT return?
It refers to the reporting process that can apply to certain UK property disposals where Capital Gains Tax information needs to be reported within the relevant 60 day period.
Does every property sale require a 60 day return?
Not necessarily. The reporting requirement depends on the circumstances of the disposal and the resulting tax position. We can review the details with you and help establish what needs to be considered.
What documents will you need?
This can include details of the original property purchase, the sale or disposal, relevant professional costs, qualifying improvement expenditure and information about how the property has been used.
Can you calculate the Capital Gain for me?
Yes. We can review the relevant figures and circumstances and prepare the Capital Gains Tax calculation needed for the property disposal reporting.
Will the disposal also need to go on my Self Assessment tax return?
Depending on your circumstances, the property disposal may also need to be considered as part of your wider annual tax reporting. We can help review this when preparing your Self Assessment.
Self Assessment Tax Returns →What should I do if I have already sold the property?
Get in touch as soon as possible with the details you have available. We can review the circumstances, identify what information is needed and discuss the next steps.
How do I get started?
Book a consultation and tell us about the property disposal, including when the property was sold and any information you already have available.
Book a Consultation →Get help with your 60 Day CGT reporting
If you have recently sold or disposed of a UK property and are unsure what Capital Gains Tax reporting may be required, MB Accountants LTD can help you understand the position and work through the relevant calculation and reporting.
Book a Consultation
Tell us about the property you have sold or disposed of and we can discuss the information needed and the best way forward.
Book a Consultation Clear, practical tax support from MB Accountants LTD.