The legislation which requires the reporting and payment of capital gains tax (“CGT”) on disposals of UK residential property within 30 days by UK resident taxpayers was due to commence from 6 April 2020. However, due to the pandemic, the Government extended the reporting deadline so that no late filing penalty would be charged for transactions completed between 6 April 2020 and 1 July 2020 which are reported by 31 July 2020.

This means that those transactions should have been reported to HMRC by 31 July 2020. It should be noted that this extension by the Government only covered the reporting requirement; CGT was still due within 30 days of completion.

Transactions from 2 July 2020 onwards must now therefore meet the 30-day deadline for both reporting and payment.