6 Things you should know about Reporting

the Capital Gains Tax when selling property

When you are selling an asset, you should keep in mind that you will have to pay a chunk of tax to the HMRC.

IS THE PROPERTY THAT I AM SELLING MY OWN HOME?

When you sell your property which is your main home you won't have to report any gains that you get. This means that you are eligible for Private Residence Relief even if you are a non-resident in the UK. A property will be considered your home for tax purposes if you have one home and you have lived in it as your main home for all the time that you have owned it and you have neither ever rented it out nor have you used the property for commercial purposes.

IS THE PROPERTY THAT I AM SELLING A RESIDENTIAL PROPERTY?

However, you will be reporting and paying Capital Gains Tax on any residential property that you sell. For example, if you are a landlord and you own a residential property which is not your main home then this property will be subject to Capital Gains Tax.

TO WHOM AM I SELLING THE PROPERTY?

You won't have to report and pay any taxes when you sell your property to your husband/wife or to your children.

HAVE I SOLD THE PROPERTY ON OR AFTER 6 APRIL 2020?

If you have sold the property on or after 6 April 2020 you must pay any capital gains tax due within 30 days of selling it. HMRC will charge you interest and penalty if the CGT is not paid reported and paid on time. In this case you don't have to wait to report the gain in the self-assessment tax return. Also note that this rule is only for the residential property, if you have sold any other asset on or after 6 April 2020 you can report is straight away using Real Time Capital Gains Tax Services or you can also report the gains in the self-assessment tax return.

DO I NEED TO REPORT CAPITAL GAINS TAX EVEN IF THE TOTAL GAINS ARE LESS THAN THE TAX-FREE ALLOWANCE?

Yes, if the total gains are less than the tax-free allowance you won't have to pay capital gains tax, however, you will still need to report them. The tax-free allowance for CGT for the tax year 2021/2022 is 12300.

DO I HAVE TO REPORT THE LOSSES?

The losses for the year from the sale of the assets can be offset against the gains in the same year and for the losses of the previous 4 years this can reduce your capital gains tax bill. Therefore, it is very important to report the gains as well as the losses to HMRC.

If you are selling a property and you what know about the tax implications and all the reliefs available, please do not hesitate to contact Taxaccolega at 020 8127 0728 we are accountants based in Surrey, Croydon, London and our team of expert accountants will be happy to advise you.

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ID Verification Form For Companies House

From 18 November 2025, UK law will require all company Directors and Persons with Significant Control (PSCs) to verify their identity with Companies House.

Companies House will issue a personal code to PSCs.
Taxaccolega (ACSP) can help collect data and assist.
Please answer the questions and upload documents.

Personal Details

Fornames * Last Name * Date of Birth * Nationality * Place of Birth *

Contact Details

Current Address * Date you moved in at current address? * Previous Address(es) in last 12 months (if Any) Email * Phone *

Role in the Company *

I am a Director I am a Person with Significant Control (PSC)

Identity Documents

ID Document * Address Document *
Are you an Overseas Director and PSC? *

Additional (Overseas)

Overseas Supporting Docs *

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You are declaring that all documents and information provided by you are true and correct, you are consenting to use and store your personal data and consenting for Taxaccolega Chartered Accountants to act as Authorised Corporate Service Provider (ACSP) on your behalf.

I confirm that I have read and agree to the above Terms & Conditions and consent to the processing of my data by Taxaccolega Chartered Accountants for the purposes of identity verification with Companies House.

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By submitting, you authorise Taxaccolega to process your data for ID verification with Companies House.

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1. Purpose of this Agreement
1.1 These Terms & Conditions apply to the collection and processing of personal data and identity documents required under the Economic Crime and Corporate Transparency Act 2023 and Companies House identity verification rules effective from 18 November 2025.
1.2 By submitting your details through our online form, you authorise Taxaccolega Chartered Accountants (as an Authorised Corporate Service Provider – ACSP) to process your information for the sole purpose of fulfilling the identity verification obligations set by Companies House.

2. Client Responsibilities
2.1 You confirm that all information and documents you provide are true, accurate, complete, and current.
2.2 You accept full responsibility for any false, misleading, or incomplete information supplied, and acknowledge that this may lead to penalties or rejection of your verification by Companies House.
2.3 You must notify us promptly of any change in your details (such as name, address, or role in the company) which may affect the verification process.

3. Our Role & Limitation
3.1 We act solely as an intermediary in submitting your information to Companies House.
3.2 We do not guarantee the acceptance, speed, or outcome of any identity verification by Companies House. The final decision rests solely with Companies House.
3.3 We shall not be liable for any loss, delay, penalty, or consequence arising from:
* (a) inaccurate or incomplete information provided by you,
* (b) delays or failures within Companies House systems,
* (c) rejection or failure of verification by Companies House, or
* (d) events outside our reasonable control.
3.4 Nothing in these Terms excludes liability for death, personal injury, fraud, or any liability which cannot be excluded under law..

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4.2 Your data will be used solely for the purpose of identity verification and related compliance requirements.
4.3 We will retain your information only as long as required by law or regulatory obligations.
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By ticking the consent box and submitting your details, you confirm that:
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• You consent to the processing, storage, and transfer of your personal data and documents in accordance with Section 4 above..

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These Terms & Conditions are governed by and construed in accordance with the laws of England and Wales, and any disputes shall be subject to the exclusive jurisdiction of the courts of England and Wales.

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6 Things you should know about Reporting the Capital Gains Tax when selling property.