Do I really need a special account for UK property capital gains tax?

Yes, if you're a UK resident and you've sold a property that wasn't your main home, and you owe Capital Gains Tax, you'll need to set up a Capital Gains Tax on UK Property account. This is how you'll report the sale and pay the tax. It's a specific account just for this purpose.

Can I use my regular Government Gateway login for the property tax account?

Good news! If you already have a Government Gateway account for other UK government services, like filing your income tax return, you can use those same login details. You don't need to create a brand new username and password just for the property tax account.

What happens after I create my account?

Once you've successfully created your Capital Gains Tax on UK Property account, you'll be given a special 15-digit reference number. It's super important to write this number down and keep it safe, as you'll need it later, especially if you decide to have an accountant or tax agent help you.

How does my accountant get access to my property tax account?

Your accountant needs your 15-digit account reference number and your postcode (or country if you live abroad). They'll use this information in their own Agent Services Account to request access. After they request it, you'll get an email asking you to give them permission. Once you authorize them, they can manage your account for you.

What information do I need when reporting a property sale?

You'll need quite a bit of detail about the property sale. This includes its address, when you bought it, when you sold it (the completion date), how much you paid for it, how much you sold it for, and any costs you had for buying, selling, or improving it. If you're not a UK resident, you'll also need to mention the property type.

What if I'm not a UK resident and sell UK property?

If you don't live in the UK but sell UK property, you still need to report it. This applies whether you make a profit or a loss, and it covers residential, non-residential, and even mixed-use properties. You'll need to report this within 60 days of the sale completion date, even if no tax is due.