Property History Checklist

From 6 April 2020, where CGT is due on a residential property disposal (for example a sale, gift or other transfer or ownership), made by an individual or a trustee:

– within 30 days of completion of sale, a return will have to be submitted to HMRC by each joint owner
– the return must include a reasonable estimate of the CGT payable on the disposal; and
– the estimated CGT must be paid to HMRC within 30 days of the date of completion

There is a lot to do in 30 days so the sooner the process is started in anticipation of a sale the better. In particular, the seller will need to gather together a lot of information about the original cost of the property and its subsequent history. Complete our checklist to assist with this. We recommend that this process is started as soon as possible rather than being left until the 30 day window.