CGT deadline extended for those selling UK residential property

Posted on Oct 29 2021

One of this week’s welcomed budget announcements was that the deadline to file a Capital Gains Tax return for those selling UK residential property will be extended.

The extension, from 30 to 60 days, follows calls for the deadline to be doubled due to unsuspecting sellers being hit with fines. Both UK and non-UK residents are included in the tax deadline extension.

Torgersens partner, Paul Newbold said; For anyone who’s selling a UK residential property and is finding themselves up against tight deadlines, this change will be very well received. It will make quite a difference to all concerned in sale to be able to get everything ready in two months rather than one.’

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About the Author

Paul Newbold

Partner

After qualifying with KPMG where he gained significant audit experience, Paul joined Torgersens in 1991 and became the firm’s audit partner in 2000. Paul employs his broad range of financial skills to provide commercial and accounting advice to a range of owner-managed businesses in the independent retail, education and professional services sectors. He also has extensive experience dealing with charities, Registered Social Landlords and not-for-profit organisations and co-operatives. Outside of work, Paul likes to visit Eastern France and South-West German and read novels by David Morrell, Michael Blake and Harper Lee. He also likes watching films, his favourite is The Shawshank Redemption.

To get in touch please e-mail paul.newbold@torgersens.com.