Sizer & Co Accountants

** HMRC introduce new Non-Resident Capital Gains Tax Return (NRCGT) if UK Non-Resident disposing of UK residential property effective 2015/16 tax year **

Following the changes to capital gains for UK Non-residents, a UK Non-resident owner who makes a disposal of a UK residential property is now required to file the newly introduced Non Resident Capital Gains Tax Return (NRCGT) to HMRC.

The NRCGT is in addition to the annual Self Assessment Tax Return (SATR) with the deadline to file this being within 30 days of completion of the disposal.

If the disposal is not reported within 30 days late filing penalty will be issued and deferment of the payment of any capital gains tax due may not be granted and may become immediately payable.

If the interest in the residential property was held jointly, each individual must file a NRCGT separately notifying their own share.

The above also applies even if you have disposed of only part of an interest in a UK residential property and also if you are now UK resident but disposal took place in the overseas part of a split year.

As the deadline is very tight careful planning is of great importance. 

Unless you have a detailed knowledge of the associated rules we would suggest that you let us handle this for you as the area of capital gains is a complex issue.

Contact us today for a free, no obligation, competitive quote.

There are no hidden costs, what we quote is what you pay, you will be given a FIXED FEE for a professional service tailored to your personal requirements.

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