UK Income Tax Returns
UK Non Residents Capital Gains Tax Returns and Resources
Other UK Tax Returns and Resources
UK Business Formations and Company Secretarial Service
In simple terms, Capital Gains Tax is due when an asset is disposed of for an amount greater than its original cost. The disposal of an asset includes selling it, giving it away as a gift, swapping it, or receiving insurance proceeds if it is lost or destroyed.
In the UK, Capital Gains Tax (CGT) may be due if you make a gain (when disposal proceeds greater than original cost):
If a gain is made on the disposal of an asset by a non-UK resident individual, Capital Gains Tax is not due unless the individual returns to the UK within five years of leaving. This is the case for most types of assets. However, there are exceptions.
Capital Gains Tax may be due if a gain (disposal proceeds greater than original cost or deemed value) is made on the disposal of UK land and property by a non-UK resident. UK land and property includes:
A non-UK resident refers to a non-UK resident for tax purposes (Click here to review our UK Residence page in a new window. You can then close the window when you have finished, and you will be back on this page).
If a non-UK resident disposes of UK land and property, they will need to report the transaction to HM Revenue and Customs and pay any Capital Gains Tax due if a taxable gain has been made. The transaction is reported by the completion and submission of a Non-Resident Capital Gains Tax Return (NRCGT).
If a non-UK resident individual makes an indirect disposal of UK Land and/or property (eg a disposal of shares in a Company which invests in UK land and/or property) they will need to report the transaction and pay any Capital Gains Tax due. The transaction is also reported by the completion and submission of a Non-Resident Capital Gains Tax Return (NRCGT).
From 27th October 2021, submission of the Non-resident Capital Gains Tax Return must be made within 60 days of disposal (the completion date). Prior to this date, the deadline was 30 days after disposal.
If the Non-Resident Capital Gains Tax Return is not submitted within the 60 day deadline, a late filing penalty will be issued. If payment of any Capital Gains Tax is not paid within this 60 day deadline, interest may be charged. Click here to review UK Tax Penalties in a new window. When finished, you can close the window and you will be back on this page.
It is important to note that non-UK residents still need to report a UK land and/or property disposal by completing and submitting a Non-Residents Capital Gains Tax Return even if no Capital Gain is made. Penalties would still apply in this case.
The need to complete and submit the NRCGT Return within such a tight deadline has not been widely advertised, and has caught many individuals unawares. Unaware of this new reporting requirement, many relied on reporting their Capital Gains in their Self Assessment Income Tax Return only. In this situation, the NRCGT Return would inevitably be late, and penalties would be issued. Interest would also be charged if the transaction resulted in Capital Gains Tax being due.
From 6th April 2020, the NRCGT Return detailing the sale or disposal of UK land and/or property is submitted online using the HMRC 'Capital Gains Tax on UK Property Service'.
We can ensure that, if you need to complete a Non-Residents Capital Gains Tax Return, it will be submitted within the strict 60 day deadline.
However, we can only do this if we are in receipt of all necessary information regarding the sale or disposal of UK land and/or property. You will need to contact us as soon as possible after the completion date. Please click here to open our contact page in a new window. Fill in some details and click submit. We will contact you as soon as possible. You can then close the window and you will be back on this page.
If you are a non-UK resident and are planning to sell or otherwise dispose of UK land and/or property, then contact us by clicking here to open our contact page in a new window. Fill in some details and click submit. We will contact you as soon as possible. You can then close the window and you will be back on this page. We can then plan to complete and submit the necessary NRCGT Return within the deadline.
If you are a non-UK resident and sold or otherwise disposed of UK land and/or property more than 60 days ago (or 30 days if the sale or disposal was before 27th October 2021), you will still need to report the transaction and submit a Non-Residents Capital Gains Tax Return. Please contact us by clicking here to open our contact page in a new window. Fill in some details and click submit. We will contact you as soon as possible. Please note that, because the NRCGT Return is late, a penalty will be issued, and interest will be charged if any Capital Gains Tax is due. Click here to review UK Tax Penalties in a new window. When finished, you can close the window and you will be back on this page.
The cost of using our service is detailed in our Pricing page. Please click here to open this page in a new window.
Alternatively, you can obtain an INSTANT QUOTE by clicking here.
Once we have all the necessary details regarding the disposal, we will complete the Return and send you details and an invoice, which will be payable on presentation. Once payment is received, we will submit the Return and send you confirmation that this has been done.
If the property is owned jointly, all individuals need to report the transaction, each completing and submitting a Non-Residents Capital Gains Tax Return.
If a non-UK resident Company makes a gain from the disposal of UK Land and/or property after 5 April 2019, then this gain is now subject to Corporation Tax, instead of Capital Gains Tax.