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Posted Wed, 30 Oct 2024 15:56:31 GMT by Sam Pantcheff
Hi, I was wondering if anyone could confirm whether I need to declare a property sale within 60 days of sale if a loss was made? There seems to be some contradictory information on the internet: some sites say that, regardless of whether you have tax to pay or made a loss, the deadline for informing HMRC is 60 or you will incur fines. Other sites say that you can declare on your next SA tax return or within 4 years of sale. This site has the info I'm referring to: https://www.gov.uk/capital-gains-tax/losses Thanks in advance.
Posted Tue, 05 Nov 2024 15:05:42 GMT by HMRC Admin 17 Response

Hi ,
 
If you are a UK resident and selling a UK property, you dont need to report the loss within 60 days.

If you are non UK resident you need to report the sale whether a gain or a loss arises. in order to claim any loss to set against future gains, the loss must be reported within 4 years.

This can be on a letter or a tax return and a computation must be included to show how you have worked out your figures .

Thank you .

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