Capital Gains Tax on UK Property Sale 2024/25
Calculate the capital gains tax on selling a UK residential property. Includes PPR relief for your main home, the £3,000 annual allowance, and the new 18%/24% rates introduced in the October 2024 Budget.
CGT on UK Property Sale
Capital improvements only, not repairs/maintenance
How CGT on Property Works (2024/25)
Capital Gains Tax applies when you sell a property that is not (or has not always been) your main home, and you make a profit. The key steps are:
- Calculate your gross gain: sale price minus purchase price and allowable costs
- Deduct any PPR relief for periods the property was your main residence
- Deduct the annual exempt amount of £3,000
- Apply the CGT rate: 18% (basic rate) or 24% (higher rate)
- Report and pay within 60 days of completionvia HMRC's property disposal service
Allowable Deductions
| Deductible | Not Deductible |
|---|---|
| SDLT / stamp duty on purchase | Mortgage interest |
| Legal fees (purchase & sale) | Repairs and maintenance |
| Survey and valuation fees | Insurance premiums |
| Estate agent fees on sale | Furnishings and fittings |
| Capital improvements (extensions, conversions) | Decoration/redecoration |
The 60-Day Reporting Rule
Since April 2020, UK residents must report and pay CGT on residential property gains within 60 days of completion (previously 30 days). Failure to report attracts automatic penalties starting at £100, plus interest on unpaid tax.
Non-Resident Landlords
Non-UK residents selling UK residential property must report under the Non-Resident CGT (NRCGT) regime, also within 60 days. Different rates and rules may apply — consult a tax adviser.