UK resident taxpayers, including trusts, must report the disposal of UK residential property and land to HMRC within 60 days when there is capital gains tax (CGT) to pay. A wider requirement applies to non-UK resident taxpayers, who must report property disposals regardless of whether CGT is due. This extends to disposals of other types of UK property (eg, commercial property). 

A report made on behalf of a trust must include the trust’s unique taxpayer reference (UTR) or unique reference number (URN). If the trust does not have a UTR or URN, the trust must be registered with HMRC. This is the case even if the trust would not normally need to be registered with the Trust Registration Service.  

Disposals should be reported using the online CGT on UK property account. Corporate trustees should report by post. 

The 60-day reporting deadline also applies for the purposes of paying any CGT due. If too much CGT has been paid after the self assessment (SA) tax return has been submitted for the tax year of disposal, the overpayment will be set against any SA tax due. Any remaining CGT overpayment can be claimed by telephoning HMRC on 0300 200 3300. It will not be repaid automatically. 

Further information

• Issue 140 of Agent Update - GOV.UK
• CGT on UK Property Account and Self Assessment: Trusts and Personal Representatives of Estates – general approach - HMRC internal manual
• ICAEW TAXguide 14/20 Trust Registration Service
• ICAEW TAXguide 15/20: CGT UK property disposal reporting