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Posted Wed, 04 Oct 2023 18:38:12 GMT by
I moved to UK in May and sold my foreign home in June and this is my first tax return. I was told that I could apply for a CGT relief since I sold my property within nine months of migration. May I know which form shall I fill in and how to specify for the relief ? Many thanks.
Posted Tue, 10 Oct 2023 10:12:19 GMT by HMRC Admin 32 Response
Hi,

Please see HS283 Private Residence Relief (2023).

HS283 Private Residence Relief (2023)

If this was your only home and you had lived in it for the full period of ownership then you are entitled to private residence relief for the final 9 months, regardless of whether you had lived in it in those final 9 months.  If your gain is fully covered by private residence relief then there is nothing for you to declare as a Capital Gain.

Thank you.
Posted Wed, 28 Aug 2024 13:53:45 GMT by Andrew
Hello, My family and I came to the United Kingdom from Hong Kong through bno visa on February 27, 2024. After that, in mid-June 2024 ,I sold the house ,this house my family and I had lived in Hong Kong for 14 years. As far as I know, the self-occupied house can be sold within nine months after moving out, and can be exempted from capital gain tax. Because I will become a British tax resident in the 24/25 tax year. At the same time, I had income interest from a bank in Hong Kong, so when the 24/25 tax year ends, I will do a self-assessment to declare overseas income (SA106).I would like to ask do I have to fill in (SA108) and apply for exemption afterwards?Or do I not need to fill in(SA108)Or should I fill in another report to HMRC declaring that I had sold my foreign home? Thanks a lot
Posted Tue, 10 Sep 2024 09:05:56 GMT by HMRC Admin 25
Hi Andrew,
Please see the following guidance which explains that there should be no Capital Gains Tax to pay on the family home you sold in Hong Kong.
Tax when you sell your home
Tax when you sell property
The SA106 should be completed to declare your foriegn income.
Self Assessment: Foreign (SA106) 
Thank you. 
 

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