A UK non-resident that sells UK residential property, needs to deliver a non-resident CGT (NRCGT) return within 30 days of selling a relevant property. The return must be made whether or not there is any NRCGT to be paid, if there is a loss on the disposal,
and even where the taxpayer is due to report the disposal on their own personal, or corporation tax self-assessment tax return.

The NRCGT charge may be applied at different rates according to whether the seller is a non-resident individual, personal representative, trustee, closely-held company or fund.

The NRCGT applies to gains made in the period from the time the NRCGT was introduced on 6 April 2015 to the disposal date of the property. Any NRCGT that is due, must also be paid within 30 days of the conveyance date. If the taxpayer is registered for UK
tax, they can opt to pay the NRCGT due when they submit their regular self assessment return.

There are penalties for failing to file the NRCGT return within the deadline, and for failing to pay any tax due on time. HMRC’s guidance on making payments has been updated to include more details about making payment by cheque.

Source: New feed