Individuals with UK income or gains are likely to need to consider two main tax compliance regimes:
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•ÌýÌýÌýÌý the self assessment regime—under this regime, the individual reports their taxable income and gains to HMRC on an annual basis. This is the case wherever in the UK the income and gains arise and wherever the individual lives
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•ÌýÌýÌýÌý the disposals of UK land regime—under this regime, the individual reports the disposal of UK land and buildings and makes a payment of the estimated tax due within 60 days of the completion of the transaction
Even if the individual filed a return under the disposals of UK land regime, if they are also required to file an annual return under the self assessment regime, this disposal must also be reported on the annual return along with the amount of tax already
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Web page updated on 17 Mar 2025 13:19