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Taxation (UK) · The basic principles of computing gains and losses

CGT Payment Dates and the 60-Day Reporting Rule

Updated 11 October 2026 · Fact-checked

Capital gains tax on most disposals is reported on the self-assessment return and paid by 31 January following the end of the tax year. For UK residential property, you must report and pay within 60 days of completion if tax is payable. Work out the tax first, then the date.

Understand CGT Payment Dates and Administration

Capital gains tax (CGT) is calculated for a tax year, which runs from 6 April to 5 April. You add up gains, deduct losses and the annual exempt amount, then apply the rates. The question then is when the tax must be paid and reported.

The normal rule is simple. Gains are reported on the self-assessment tax return for the tax year. The tax is paid by 31 January after the tax year ends. So a gain made in 2026/27 is paid by 31 January 2028. This is the same date as the balancing payment for income tax.

The exception is a disposal of UK residential property where CGT is payable. You must file a separate CGT return and pay the estimated tax within 60 days of completion. The date that counts is completion, not the date contracts were exchanged. The tax paid is then credited against the final liability on the self-assessment return.

If no tax is payable on the residential property, for example the gain is fully covered by private residence relief, the annual exempt amount or losses, the 60-day return is not needed. The gain must still be dealt with correctly, and may still need to go on the return if reporting thresholds apply. In the exam, state the date clearly and say which rule applies.

The annual exempt amount and the rates you need are given in the tax tables in the exam: £3,000, with 18% and 24% rates. The dates are not given, so you must learn them.

Key rules to remember

Normal CGT payment date
31 January following the end of the tax year of disposal
Applies to shares, land that is not UK residential property, and other assets. A 2026/27 gain is due 31 January 2028.
UK residential property
Report and pay within 60 days of completion
Applies where CGT is payable. Count 60 calendar days from the completion date.
Self-assessment filing dates
Paper return: 31 October after the tax year. Online return: 31 January after the tax year
For 2026/27 these are 31 October 2027 and 31 January 2028.
CGT rates and exempt amount (given in exam)
18% and 24%; annual exempt amount £3,000
Use 18% only on the part of the gain that falls within the unused basic rate band. The rest is at 24%.
Unused basic rate band
£37,700 − taxable income (if positive)
Taxable income is after the personal allowance. Gains are taxed after income.

How to solve CGT Payment Dates and Administration questions

Use this order for any question on CGT payment or reporting. Do the tax calculation first, then fix the date.

  1. 1Identify the asset sold and the date of disposal. For land, note the completion date.
  2. 2Decide whether the asset is UK residential property and whether CGT will actually be payable.
  3. 3Compute the gain, deduct losses and the £3,000 annual exempt amount to get the taxable gain.
  4. 4Find the unused basic rate band from taxable income. Tax that part at 18% and the rest at 24%.
  5. 5If the 60-day rule applies, count 60 days from completion and state the deadline.
  6. 6Otherwise state the due date as 31 January after the end of the tax year, and the return filing dates.
  7. 7Add any consequence the question asks for, such as credit of tax already paid or a late payment point.

Quickest way: Date first, then rate

When to use it: Use this in Section A or in OT case questions that ask only for a date or the correct statement.

  1. Ask: is it UK residential property with tax due? If yes, the answer is 60 days from completion.
  2. If not, work out the tax year of disposal using 5 April as the end date.
  3. Add one year to the end of that tax year and give 31 January. For example, a sale on 10 December 2026 gives 31 January 2028.
  4. For the amount, take £3,000 off the gain, fill the unused basic rate band at 18%, and charge the rest at 24%.

Common mistakes in CGT Payment Dates and Administration

  • Using the exchange date for the 60-day count on a property sale.

    Students link the sale to the contract date.

    Fix: The date of disposal for the 60-day deadline is the completion date. Always check the completion date in the question.

  • Applying the 60-day rule to shares or commercial property.

    The rule is remembered as a general CGT rule.

    Fix: It applies only to UK residential property. Other gains are paid by 31 January after the tax year.

  • Giving 31 January in the same year as the disposal.

    Students forget the tax year ends on 5 April.

    Fix: Find the tax year first. A disposal in December 2026 falls in 2026/27, so the due date is 31 January 2028.

  • Thinking a 60-day return is needed when no tax is payable.

    Students see 'residential property' and stop reading.

    Fix: Check whether tax is payable after reliefs, losses and the annual exempt amount. If no tax is payable, there is no 60-day payment.

  • Ignoring the unused basic rate band and charging all of the gain at 24%.

    Students treat the rate as depending on the asset only.

    Fix: Subtract taxable income from £37,700. Any remaining band is taxed at 18%.

  • Confusing the paper and online filing dates.

    Both are close to the payment date.

    Fix: Paper is 31 October after the tax year. Online is 31 January. Payment is 31 January either way.

Worked examples

Example 1

In 2026/27, Priya sold a UK residential investment property. Completion was on 20 August 2026. Her gain before the annual exempt amount is £63,000. Her taxable income is £30,000. There are no losses. Calculate the CGT and state the date by which she must report and pay.

Show the solution
  1. Taxable gain = £63,000 − £3,000 annual exempt amount = £60,000.
  2. Unused basic rate band = £37,700 − £30,000 = £7,700.
  3. Tax at 18% on £7,700 = £1,386.
  4. Tax at 24% on £52,300 (£60,000 − £7,700) = £12,552.
  5. Total CGT = £1,386 + £12,552 = £13,938.
  6. UK residential property with tax payable, so the 60-day rule applies. Count from completion on 20 August 2026: 11 days to 31 August, 30 days to 30 September (41 days), then 19 more days gives 19 October 2026.

Answer: CGT is £13,938. Priya must report and pay by 19 October 2026. The amount paid is credited against her final liability on the 2026/27 self-assessment return.

Example 2

Marcus sold quoted shares on 10 December 2026 and made a gain of £20,000. He has no losses and his taxable income is well above the higher rate threshold. Calculate the CGT and state when it is due and when his return must be filed.

Show the solution
  1. Taxable gain = £20,000 − £3,000 = £17,000.
  2. No basic rate band is left, so all of the gain is taxed at 24%.
  3. CGT = £17,000 × 24% = £4,080.
  4. Shares are not UK residential property, so the 60-day rule does not apply.
  5. The disposal falls in 2026/27, which ends on 5 April 2027. The CGT is due on 31 January 2028.
  6. The paper return is due by 31 October 2027. The online return is due by 31 January 2028.

Answer: CGT is £4,080, due by 31 January 2028. The return is due by 31 October 2027 on paper or 31 January 2028 online.

Exam tips

  • Learn the dates. They are not in the tax tables, but the rates and annual exempt amount are.
  • Write the tax year and its end date before you give a due date. This stops year-off errors.
  • In a Section C answer, show the 60-day count briefly so you can earn marks for the method even if you slip.
  • In objective questions, look for the words 'residential' and 'completion'. They decide which rule applies.
  • Round to the nearest £ as the exam instructs, and show all workings.

Practice questions from The basic principles of computing gains and losses

CGT Payment Dates and Administration in other exams

The same ground in other exams, if you are preparing for more than one or want another angle on it.

CGT Payment Dates and Administration: frequently asked questions

When is capital gains tax due under self-assessment?

For most gains, CGT is due on 31 January following the end of the tax year. A gain in 2026/27 is therefore due by 31 January 2028. The gain is reported on the self-assessment return.

What is the 60-day rule for UK property?

If you dispose of UK residential property and CGT is payable, you must file a CGT return and pay the tax within 60 days of completion. The payment is later credited against your final liability.

Do I need a 60-day return if there is no tax to pay?

No payment is due if reliefs, losses or the annual exempt amount remove the gain. A 60-day return and payment relate to cases where CGT is payable.

Does the 60-day rule apply to shares?

No. It applies to UK residential property. Gains on shares and other assets are paid by 31 January after the tax year.