Consultation outcome

Capital Gains Tax: Payment window for residential property gains

This consultation has concluded

Download the full outcome

Capital Gains Tax: Payment window for residential property gains (payment on account) - summary of responses

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Detail of outcome

The responses have been considered and informed the draft provisions published for inclusion in Finance Bill 2018 to 2019.

You can read the draft legislation, with a supporting explanatory note and tax information and impact note.

Original consultation

Summary

We are inviting views on the scheme for making payments on account of Capital Gains Tax when disposing of residential property.

This consultation ran from
to

Consultation description

From April 2020, a payment on account of Capital Gains Tax (CGT) will need to be made when a residential property is sold or otherwise disposed of, such as by giving it away.

Payment will be due within 30 days of the completion of the disposal. The changes mainly affect those disposing of a second home or rental property.

They will not apply where the gains are not chargeable to CGT, for example, where the gains are covered by private residence relief.

This is a technical consultation on:

  • how the amount payable will be calculated
  • the administration of those payments
  • changes to an existing CGT payment on account system for non-residents who dispose of UK residential property

Documents

Capital Gains Tax: Payment window for residential property gains (payment on account) - consultation document

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email different.format@hmrc.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 11 April 2018
Last updated 6 July 2018 + show all updates
  1. Added summary of responses and link to draft legislation.
  2. First published.