Summary

The detailed rules are discussed below, but in summary:

1. •

   this compliance regime applies to (a) non-residents in relation to direct or indirect disposals of UK land and (b) to UK residents (and non-residents carrying on a trade via a UK branch or agency) in relation to direct disposals of UK residential property

2. •

   where a capital gains tax UK property disposals return is required, this must be filed within 60 days of completion (30 days prior to 27 October 2021) and any tax due, based on the best estimate available at the time, must be paid by the same deadline

3. •

   penalties are chargeable if the return is submitted late, and interest is charged where the tax payment is not made on time or the estimated payment is insufficient to cover the actual tax due

4. •

   certain disposals, such as inter-spouse transfers that take place at no-gain / no-loss and grants of a lease for no premium do not have to be reported

5. •

   for UK residents (and non-residents carrying