CGT on sale of property abroad

Hello, We (my wife and I) are going to sell our property in Poland in August this year. For tax purposes we are UK residents. I went through the calculator on gov.uk and it showed that we need to pay CGT. Could you please confirm that I am right with the following: 1. I use half of all amounts (initial value of the property, costs, income from sale) for myself and for my wife. 2. I use the official exchange rate on the day we received the property (it was a gift with the value shown in the legal paperwork) and the day we sell it. I found historical data on ExchangeRates.org - Can I use it? 3. Our deadline for submitting self-assessment tax return and payment is 31 January 2024 (not 60 days after the sale). Thank you

Yes. For selling property OVERSEAS ( Outside UK) the deadline for filing the Capital Gains Tax is 31-Jan-2024. This is my interpretation of the writeup on gov,uk i am not hmrc

Hi,
1. When calculating your individual Capital Gains on the sale of your Polish property,  you and your wife should use 50% of all relevant amounts in your calculations.
2. The historical Exchange Rate infoRmation you refer to can be used.
3. The 60-days-after-sale declaration requirement does not apply to the sale of overseas property and the normal Self Assessment deadlines apply.            
Tax when you sell property
Thank you.

HMRC Admin 8, Thank you for the confirmation

Hello HMRC Admin 8, I have just found the following on gov.uk: "You must report by 31 December in the tax year after you made your gain and pay by 31 January. For example, if you made a gain in the 2023 to 2024 tax year, you need to report it by 31 December 2024 and pay by 31 January 2025." I sold the property in August 2023 (tax year 2023 - 2024) Could you confirm that our deadline for reporting the CGT is 31 December 2024 and the deadline for payment is 31 January 2025. Thank you

Hi Kris Greda

For residential UK property, you need to report and pay within 60 days of completion.
For other gains you can use the real time to report any time. see guidance at Report and pay your Capital Gains Tax

Thank you

Hi Kris, can I ask you, did you pay any or no cgt on your Polish property to the Polish Tax Authorities? Looking to sell property in Poland also this year or next and have not yet got clarification if cgt is paid to both countries. Hope your sale went through ok.