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Posted Fri, 04 Oct 2024 12:10:46 GMT by jyuk
I sold my oversea property to my relative but I did not receive any gain from this asset sale also I do not have any gain bringing into my bank accounts both in the UK and oversea. Under this case do I still need to report the CGT to HMRC please?
Posted Mon, 14 Oct 2024 10:20:46 GMT by HMRC Admin 18 Response
Hi,

If you are UK resident and domicile you are liable on your worldwide income so yes you would need to report it. If you are not domcile and claiming remittance basis, please refer to:

Paying tax on the remittance basis (Self Assessment helpsheet HS264)

Thank you.

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