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Posted Sun, 08 Oct 2023 17:34:42 GMT by
Hi , Being uk-tax payer , Is there any tax implications, like capital gain tax or income tax if I sell my overseas property and transfer the money to my uk bank account? is there any obligation to inform the HMRC? should I. show any documentation to my bank ?
Posted Mon, 16 Oct 2023 11:12:54 GMT by HMRC Admin 5 Response
Hi

As a UK resident, you are liable to pay income tax and capital gains tax on your world wide income.  
If you dispose of an overseas property and make a capital gain from the property, then you will need to report this in a self assessment tax return (SA100) on SA108 (gains) and also on SA106 (foreign), if any foreign tax was deducted from the disposal of the property.  
You can then claim a credit of up to 100% of the foreign tax paid.

Thank you

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