4796045, Registered Office: A loss arising on any other asset in the same tax year can only be offset against a gain from a UK residential property on the self-assessment tax return. If you are reporting a ‘one-off’ disposal and have no other reason to complete a tax return, you will not need to register for Self Assessment. This includes disposals of residential properties, non-residential properties and indirect disposals. If you bought the property before the 1st Janaury 1994, then you may qualify for relief on the gain made between the 1st Janaury 1994 and 1st January 2006, providing the sale price does not exceed €400,000. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. Yes, PPR used to be automatic for the last 18 months of ownership irrespective to how the property had been used, but from 6 April 2020 this is being reduced to just 9 months. By continuing to use this website, you agree to the use of cookies. COVID-19: When will employers start paying part of furloughed staff wages? View more . A UK resident individual doesn’t need to file a UK land return if no CGT is due on the disposal of the property i.e. //-->