The 60-Day Rule: What Every UK Non-Resident Property Seller Needs to Know

The 60-Day Rule: What Every Non-Resident Property Seller Needs to Know

The 60-Day Rule: What Every Non-Resident Property Seller Needs to Know

If you’ve sold or are planning to sell a UK property that isn’t your main residence, there’s a deadline you cannot afford to miss. The clock starts ticking from the day the sale completes.

You now have just 60 days to report the sale and pay any Capital Gains Tax (CGT) owed to HMRC. his applies even if you’re not based in the UK.

Let’s walk through what the rule means, who it affects, and what happens if you don’t comply.

What is the 60-Day CGT Rule?

As of 27 October 2021, HMRC extended the reporting window from 30 to 60 days for property sales that trigger Capital Gains Tax. This means:

➡️ If you dispose of UK residential property and CGT is due, you must

✅ Report the gain to HMRC

✅ Pay the tax

All these are needed to be done within 60 calendar days of the completion date.

For non-residents, the rule goes further.

Even if there’s no tax to pay, you must still submit a CGT return for every UK property disposal including commercial property and land.

Who Needs to Report?

You must file a CGT return if you are:

A non-UK resident (individual or company) selling any UK land or property

A UK resident selling a second home, rental property, or land not classed as your primary residence

Disposing of UK property via a trust or partnership

Gifting property that results in a chargeable gain

You don’t need to report if:

You sold your main home and qualify for Private Residence Relief

The property is fully covered by other reliefs (and there’s no CGT due)

The property was sold at a loss, and you’re not a non-resident

What Happens If You Miss the Deadline?

Late or missed submissions can lead to:

1. Automatic late-filing penalties

2. Interest on unpaid tax

3. Further fines for extended delays

4. Risk of HMRC investigation or enforcement action

Even if no tax is due, not submitting a return on time can still trigger penalties.

At Williamsons Consultants, we’ve seen small oversights turn into costly situations for property sellers especially non-residents unfamiliar with UK tax deadlines.

Why You Must Report Even When There’s No Gain

Many assume that if there’s no profit from the sale, there’s no need to notify HMRC.

That’s incorrect especially for non-residents.

Here’s why:

HMRC uses the return to track ownership changes and potential future liabilities

Non-residents are required to report all disposals profit or not

Missing this step can damage your compliance record

Don’t let a “no gain” sale lull you into skipping the process. The risk isn’t worth it.

How Williamsons Consultants Can Help

Navigating UK tax as a non-resident can be confusing, even for experienced investors or professionals.

At Williamsons Consultants, we provide:

✔️ Expert guidance on when and how to file CGT returns

✔️ Accurate gain/loss calculations using up-to-date HMRC rules

✔️ Advice on rebasing (using April 2015 or 2019 values where applicable)

✔️ Hands-on support to meet the 60-day deadline with confidence

✔️ Prevention strategies to avoid future penalties

Whether you're disposing of a single property or managing a portfolio, we’re here to make compliance easier and protect your returns.

UK property tax law has evolved rapidly in recent years, especially for non-residents. The 60-day CGT rule is just one example of how easy it is to fall behind on reporting obligations without even realising it.

The key is simple: Stay informed. Take action early. Get support if you’re unsure.

If you’ve recently sold or plan to sell UK property, and you're not sure what to do next, reach out to us before the 60 days are up. We’ll guide you through it.