Why property sales have a 60-day CGT clock
When you dispose of UK residential property, Capital Gains Tax is not always something you can casually leave until the following 31 January. UK residents who owe CGT on a residential property disposal normally must report and pay through HMRC’s Capital Gains Tax on UK property service within 60 days of completion. Late reporting can mean penalties and interest on unpaid tax.
What this helper does
Enter the completion date to see the calendar deadline and how many days remain from today. Optionally enter proceeds, allowable costs and other income for a rough residential CGT sketch using the £3,000 annual exempt amount and residential rates of 18% within the basic-rate band and 24% above.
Allowable costs and reliefs we skip
Purchase price, buying/selling fees and qualifying improvements often reduce the gain. Private Residence Relief can wipe out gains on a main home for periods of occupation. Lettings relief is narrower than it once was. Mixed-use buildings, marriages transferring assets, and inherited property bases need specialist calculation. This tool does not apply those reliefs.
Residents vs non-residents
Non-UK residents face broader reporting duties on UK land and property, sometimes even when no tax is due. Do not assume a “no tax, no report” shortcut if you are non-resident — check the GOV.UK property reporting pages.
Self Assessment still matters
Reporting through the 60-day service does not always replace mentioning the gain on your Self Assessment return. Keep both calendars visible when you sell.
Worked example
Completion 1 March 2027 → 60-day deadline around 30 April 2027. Gain after costs £40,000. After £3,000 AEA, £37,000 taxable. If most of that sits above the basic-rate band, rough tax near 24% on that slice — before any PRR.
Limitations
Educational estimator only; not tax advice. Confirm deadlines and rates on GOV.UK for your completion date.
Completion versus exchange
The 60-day clock for the UK property service generally runs from completion, not exchange of contracts. Diarise completion day immediately. If completion slips, the deadline slips with it — update your reminder.
Estimating tax before solicitors finish
You may need to pay within 60 days based on a best estimate, then refine later. Keep acquisition costs, Stamp Duty records, improvement invoices and selling fees organised so your solicitor and accountant are not reconstructing history in week eight.
Main home versus additional property
Private Residence Relief often eliminates CGT on a true main residence for periods of occupation, but additional properties, periods of letting, and garden/land over permitted areas create chargeable gains. Do not assume “I lived there once” equals full relief.
Annual exempt amount
The AEA for individuals is £3,000 in recent years including 2026/27 published tables. It is much smaller than historic allowances, so more modest gains become taxable. Trustees have different amounts.
Payments on account confusion
CGT paid through the property service is not the same as Income Tax payments on account. Keep the regimes straight when you read your HMRC account ledger.
Checklist before day 60
- Confirm whether you are in scope (resident/non-resident, property type).
- Compute proceeds minus allowable costs.
- Consider PRR and other reliefs.
- Apply AEA and rate bands.
- Report and pay via the HMRC service; diary SA follow-up.
Joint owners and divorcing couples
Where two people own a property, gains are usually computed per person on their share. Declarations and reliefs can differ if only one occupied the property as a main home. Separation and divorce introduce further statutory rules on transfers between spouses and civil partners. This calculator assumes a single owner’s figures for simplicity.
Inherited property
The base cost for an inherited property is often probate value at the date of death, not what the deceased originally paid. Improvements after inheritance still matter. If you sell quickly after probate, gather the valuation paperwork early so the 60-day payment is not a guess under pressure.
Payments you might also owe
Besides CGT, selling property can involve estate agent fees, conveyancing, and sometimes early mortgage exit charges. Those selling costs may be allowable for CGT even though they are not “tax”. Separate SDLT issues arise for buyers, not sellers, of UK residential property.
Software and professional help
Conveyancers focus on legal title, not CGT optimisation. Accountants focus on tax, not Land Registry forms. If the gain is large or PRR is uncertain, budget for professional advice before day 60 rather than after a penalty letter. Spreadsheet estimates like this page are for orientation.
Amendments after filing
If your first 60-day submission used provisional figures, you may need to amend when final costs arrive. Keep a folder with the original submission PDF, payment confirmation, and later adjustments so Self Assessment matches.
Sources: Report and pay CGT on UK property; CGT rates; CGT rates and allowances.