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Posted Tue, 21 May 2024 05:08:26 GMT by Alex2005
Hi, could you please help me to understand a date of disposal for foreign property (USA)? In the documents which I have, the “Date of Sale/Transfer” is 12th of April. The “Sale Contract Date”was in January, so they fall to the different tax years. I received the money form this sale at the end of April . For which tax year I should report the sale, 2023/24 or 2024/25, and from which date to calculate a CGT? Thank you
Posted Wed, 22 May 2024 11:13:57 GMT by HMRC Admin 10 Response
Hi
The year of disposal is the dates contracts exchanged( date missives signed). If any conditions are attached then its when all the conditions are met. any gain is based on the difference in vale from date purchased to date sold.

 

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