“Real time” capital gains tax service by HMRC

HMRC has recently introduced a “real time” capital gains tax system which can be used to report and pay tax on capital disposals made in the tax years ended 5 April 2025 and 2026.

This is a useful option available for those that doesn’t usually need to complete a tax return.

If you are already registered for self assessment, following completion of this return you would also need to include the disposal on your self assessment tax return.

Who can use this capital gains tax facility?

The following types of capital gain disposals by UK residents can be reported using this facility.

1. Property or Land – non UK residential property, commercial property or land.
2. Shares that are not in ISAs or Personal Equity Plans (PEPs) - listed and unlisted shares.
3. Other assets - paintings, jewellery, antiques and other.

After the submission, you will receive a letter or email with a payment reference number to pay any capital gains tax arising using the online tax payment service or online banking.

What are the limitations?

While this is a good facility, there are certain limitations:

1. This can only be completed by an individual and therefore an agent cannot complete the return on your behalf.
2. You will need to set up a government gateway account for this which means you must hold a valid UK passport or a driver’s license.
3. Any changes after submission would require a new report submission using the same report reference.

Please see here for more information.

Please note this is different to residential property disposal and 60 day compulsory reporting for sale of residential property in the UK.  Information on this can be found here.

If you have any questions or queries about your capital gains tax position please get in touch with your Swindells’ partner who will be able to help.