Taxation (UK) · The time limits for the submission of information, claims and payment of tax, including payments on account

CGT and IHT Payment and Reporting Dates

Updated 11 October 2026 · Fact-checked

UK residential property gains must be reported and the CGT paid within 60 days of completion. Other CGT is normally paid by 31 January after the tax year end. IHT is generally due six months after the end of the month of death. Lifetime chargeable transfers fall due on 30 April or six months after the month of the gift, depending on when the gift was made.

Understand Capital Gains Tax and Inheritance Tax Payment and Reporting Dates

Tax is only half the answer in TX. The examiner also asks when you report a transaction and when you pay. For capital gains tax (CGT) and inheritance tax (IHT) the dates are fixed rules, so they are easy marks if you learn them.

CGT has two routes. If an individual disposes of UK residential property and CGT is payable, they must submit a CGT property return and pay the tax within 60 days of completion. For all other disposals, such as shares or a business, the gain goes on the self-assessment return and the tax is paid by 31 January following the end of the tax year. A disposal in 2026/27 is therefore paid by 31 January 2028. The 60-day payment is credited against the final liability, so it is not paid twice.

IHT depends on the type of transfer. A chargeable lifetime transfer (CLT) is a gift into a trust that is chargeable when made. Its tax is due on 30 April after the end of the tax year if the gift was made between 6 April and 30 September. If the gift was made between 1 October and 5 April, it is due six months after the end of the month of the gift. Extra tax on a CLT or a failed potentially exempt transfer (PET) because of death within seven years is due six months after the end of the month of death. Tax on the death estate is due on the same date.

Late payment brings interest. In the exam, use the interest rates ACCA gives you in the tax tables. Interest runs from the due date until the day of payment.

Some IHT can be paid in instalments, for example on certain land and controlling shareholdings. The reporting side is simpler for exam purposes: you need to know the payment dates and who pays. The personal representatives pay tax on the death estate. The donee pays tax on a PET that becomes chargeable.

Key rules to remember

CGT on UK residential property: Report and pay within 60 days of completion; Applies where CGT is payable on the disposal of UK residential property by an individual. The payment is credited against the final liability.
Normal CGT payment date: 31 January following the end of the tax year of disposal; Example: a disposal in 2026/27 (6 April 2026 to 5 April 2027) is due by 31 January 2028.
Lifetime IHT: gift 6 April to 30 September: Due 30 April in the following year; Applies to CLTs only. PETs have no tax at the time of the gift.
Lifetime IHT: gift 1 October to 5 April: Due 6 months after the end of the month of the gift; A gift on 20 November is due on 31 May.
IHT due because of death: Due 6 months after the end of the month of death; Covers the death estate, extra tax on CLTs, and tax on PETs that become chargeable.
Taper relief: 3–4 years 20%; 4–5 years 40%; 5–6 years 60%; 6–7 years 80% reduction; The reduction applies to the tax, not the value. Gifts made less than 3 years before death get no reduction.
Interest rate for late tax: Underpaid tax 8.50%; overpaid tax 3.50% (ACCA assumed rates); Use the rates given in the exam tables.

How to solve Capital Gains Tax and Inheritance Tax Payment and Reporting Dates questions

Use this method for any question asking when CGT or IHT must be reported or paid.

1Identify the tax: CGT or IHT.
2For CGT, decide whether the asset is UK residential property sold by an individual with tax payable. If yes, the deadline is 60 days after completion.
3For other CGT, work out the tax year of disposal and use 31 January after that year end.
4For IHT, identify the event: a lifetime CLT, a PET that becomes chargeable, additional tax on death, or the death estate.
5For a CLT, check whether the gift date is in 6 April to 30 September or 1 October to 5 April, then apply the matching due date.
6For death-related tax, take the end of the month of death and add six months.
7Work out who pays and whether interest or instalments are relevant.
8State the date clearly, and show the calculation if the question asks for the tax.

Quickest way: Date ladder

When to use it: Use this in Section A and OT case questions where you only need a deadline.

Ask: residential property? If yes, write completion date plus 60 days.
If not, ask: CGT? If yes, write 31 January after the tax year.
If IHT and death-related, write end of month of death plus six months.
If IHT and a lifetime CLT, split at 30 September: before it, 30 April next year; after it, six months after the end of the month.
Check the answer is a month-end date, such as 30 April or 31 May, and that it is not a made-up date.

Common mistakes in Capital Gains Tax and Inheritance Tax Payment and Reporting Dates

Using 31 January for UK residential property sales.
Students remember the self-assessment deadline and apply it to everything.
Fix: Residential property with tax payable is 60 days from completion. Shares and business assets use 31 January.
Counting the 60 days from exchange of contracts.
Exchange and completion are confused.
Fix: Use the completion date given in the question.
Using six months from the date of death rather than from the end of the month.
Students apply the six months to the exact date.
Fix: Move to the end of the month first, then add six months. Death on 15 March gives 30 September.
Applying the 30 April rule to a gift made after 30 September.
Students recall 30 April and forget the split.
Fix: Only gifts made 6 April to 30 September fall due the following 30 April. Later gifts use six months after the month-end.
Charging lifetime IHT on a PET when it is made.
PETs and CLTs are mixed up.
Fix: A PET has no tax unless the donor dies within seven years. Tax is then due six months after the end of the month of death.
Forgetting to credit tax already paid.
Students compute death tax and stop.
Fix: Deduct lifetime tax paid on a CLT from the death tax after taper relief. Credit 60-day CGT payments against the final CGT liability.

Worked examples

Example 1

Mia, a higher rate taxpayer, sells a UK residential property that is not her home. Completion is on 12 August 2026 and the gain is £60,000. She has made no other disposals in 2026/27. State when the property return and payment are due and compute the CGT.

Show the solution

The asset is UK residential property and tax is payable, so the 60-day rule applies.
Count 60 days from 12 August 2026: 19 days to 31 August, 30 days to 30 September (49), and 11 days more gives 11 October 2026.
Gain £60,000 less annual exempt amount £3,000 gives taxable gain £57,000.
As a higher rate taxpayer she pays 24%: £57,000 × 24% = £13,680.
This payment is credited against her final liability on the 2026/27 return, which is due by 31 January 2028.

Answer: Report and pay £13,680 by 11 October 2026. The 2026/27 return and any balance of CGT are due by 31 January 2028.

Example 2

On 20 November 2025 Omar made a CLT with a gross chargeable value of £425,000. He had made no earlier transfers. He died on 15 March 2029. Ignore exemptions and assume the nil rate band is £325,000 throughout. State the payment dates and compute the additional IHT on death.

Show the solution

The gift was made on 20 November, which is between 1 October and 5 April.
Lifetime tax is due six months after the end of November, which is 31 May 2026.
Lifetime tax: (£425,000 − £325,000) × 20% = £20,000.
Omar died 3 years and about 4 months after the gift, so he died within 7 years. The gap is more than 3 but less than 4 years, so taper relief is 20%.
Death tax: (£425,000 − £325,000) × 40% = £40,000.
After taper relief: £40,000 × (100% − 20%) = £32,000.
Less lifetime tax paid £20,000 gives additional tax of £12,000.
Death is in March 2029, so the end of the month is 31 March 2029. Add six months to get 30 September 2029.

Answer: Lifetime tax of £20,000 was due on 31 May 2026. Additional IHT of £12,000 is due on 30 September 2029. Interest runs on any late payment.

Exam tips

Write the actual date, not just the rule. Section C marks usually need a date.
In OT questions, read the dates carefully. Gift date, completion date and death date decide the answer.
Check whether the question asks for payment, reporting, or both, and for the person who must pay.
Use the interest rates and taper table from the ACCA tax tables rather than memory.
Show the working for the tax and the date separately so that you pick up method marks.

Practice questions from The time limits for the submission of information, claims and payment of tax, including payments on account

Capital Gains Tax and Inheritance Tax Payment and Reporting Dates: frequently asked questions

What is the CGT deadline for UK residential property in ACCA TX?

Where CGT is payable, an individual must submit a CGT property return and pay the tax within 60 days of completion. The payment is credited against the final liability on the self-assessment return. Other disposals are paid by 31 January after the tax year.

When is inheritance tax payable after death?

IHT on the death estate is due six months after the end of the month of death. Extra tax on lifetime gifts made within seven years of death is due on the same date. Interest runs from that date if the tax is paid late.

When is IHT due on a lifetime gift?

Only a chargeable lifetime transfer has tax at the time of the gift. If made between 6 April and 30 September, tax is due on 30 April the next year. If made between 1 October and 5 April, it is due six months after the end of the month of the gift.

Is any CGT paid by 31 January?

Yes. For disposals other than UK residential property, CGT is paid by 31 January following the end of the tax year of disposal. For 2026/27, that is 31 January 2028.