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Report of Capital Gain Tax for selling a buy to let property

Answer
Wai Nang Chin
Posted Mon, 02 Dec 2024 19:13:08 GMT by Wai Nang Chin
Hi, I am now processing selling of a buy to let property and expect the exchange will be complete mid of this month. The selling price is lower than the purchase prices. I think there is no capital gain in this deal. I want to ask whether I need to report to HMRC or not? My solicitor told me it’s not necessary. Is it correct? Thanks.
Answer
HMRC Admin 20 Response
Posted Fri, 06 Dec 2024 13:20:48 GMT by HMRC Admin 20 Response
Hi,
If you are UK resident and it is a UK property then no you do not need to declare it.
If you are not resident you still need to declare it even it there is a loss.
Thank you.

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