Property gains reporting error
If you're trying to report a gain on a UK property using the 60-day return, you may hit a stumbling block that gives an error message. However, the Institute of Chartered Accountants in England and Wales (ICAEW) has found a potential solution. What’s the full story?
You have to file a return within 60 days of completion if you make a disposal of UK residential property and there is a tax bill, i.e. the gain isn’t covered by the annual exemption, private residence relief, or losses arising before the completion date. Non-UK residents have to report all gains on UK property, whether it is residential or not.
However, some users have reported receiving an error message saying “sorry we are experiencing technical difficulties, please try again in a few minutes” when trying to use the property reporting service. The ICAEW has reported that the problem may be caused by the way the address has been populated in HMRC’s system. It's important to ensure that the required information is captured in the correct box. As an example, many address boxes have three or more lines for the main address, and a separate box for the postcode. If the postcode is mistakenly entered into the main address box, it appears to cause the error.
If you are experiencing the error message, check that the address has been correctly captured by logging into online services and viewing your profile. You can change your address from this page if necessary.
Related Topics
-
Dodging the 2027 IHT and pension changes
In a little over a year the inheritance tax (IHT) exemption for unused pension savings comes to an end. If you’re married or in a civil partnership, one simple step might save your estate thousands in IHT. What is it?
-
Act now to spread the cost of your tax bill
The deadline for filing your 2024/25 self-assessment tax return and paying the tax you owe is 31 January 2026. However, if you file your tax return early, you may be able to pay through your PAYE code instead. Are you eligible?
-
Electronic VAT return and payment due