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Posted Sun, 25 Aug 2024 16:12:36 GMT by Jenny Jones
I have just sold my property in Spain, which was my only residence until 2023. I was fiscally resident in Spain that year, but moved back to UK (Scotland) to do a Masters (not working). I have been staying with family so not bought a new property here. However, I have to pay 19% CGT on profits from sale in Spain as I am a non-resident there for tax purposes in 2024. My aim is to buy a property here sith the proceeds. Am I entitled to any exemptions here in Scotland or can I reclaim any of this? Pre-Brexit there would have been total exemptions for reinvesting in a property in another EU country but since 2021 this was lost. Any advice or help would be greatly appreciated. Thank you.
Posted Fri, 06 Sep 2024 08:30:57 GMT by HMRC Admin 25 Response
Hi Jenny,
As it was your main property its unlikley that any CGT is due in the UK.
However, HMRC cannot refund any foreign tax and you would need to contact the Spanish authorities for this.to check if any CGT is due here:
Please refer to:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you. 

 

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