For a gain or loss to be within the scope of tax on chargeable gains, there must be a chargeable disposal of a chargeable asset by a chargeable person. See C1.104, C1.103 and C1.102 respectively.
Individuals, trustees and personal representatives are subject to capital gains tax on chargeable gains. Companies are subject to corporation tax on chargeable gains. See C1.102.
This article discusses the compliance requirements for disposals of UK land, with the reporting of disposals of other assets covered in C1.109. For the computation of chargeable gains and losses, see C1.105. For the use of allowable losses, see C1.106. For the taxation of chargeable gains, see C1.107.
Compliance requirements for disposals of UK land
Changes introduced in FA 2019, Sch 2 require certain taxpayers who dispose of UK land to make a capital gains tax UK property disposals return to HMRC and to make a payment of the estimated tax due within 60 days following the date of completion.
This deadline applies to disposals that complete on or
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