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Posted Fri, 27 Oct 2023 15:26:50 GMT by
I am a UK resident selling my Australiam property I bought in 2010. My Oz Accountant has calculated my CGT payment which is due as non resident of Australia for tax purposes. I complete an Nnausl tax return in UK and Australia, and I have dual residency . Please could you kindly advise if I need to pay more tax when I transfer ,$to £ to transfer to my UK bank account? Fyi this was my main residence from 2010 to 11/2013, when I rented the property out and worked remotely in Darwin, then returned home to UK in 8/2015 to care for my Father where I reside now. I currently work in the UK and pay tax? Please advise on Double Taxation rulings, and if I need to pay any taxes, if do how much and what steps do I need to the now, as going thru sales process? If I am charged I may have to reconsider rerenting until I retire in a couple of yrs then return to Australia to live to avoid paying such high CGT...please advise at your earliest convenience. Many thanks
Posted Tue, 31 Oct 2023 17:14:42 GMT by HMRC Admin 10 Response
Hi
Before we respond to your question, please clarify what you mean by 'an Nnausl tax return' (which you say you complete in UK and Australia).
Posted Tue, 31 Oct 2023 22:50:49 GMT by
Hi, in response to your query raised, sorry this was a 'typo': Before we respond to your question, please clarify what you mean by 'Annual tax return' (which you say you complete in UK and Australia). Yes I complete Tax returns in both countries UK and Australia, by sending my UK Tax return to my Australian Tax Accountants., as I work and have an income in England ie declaring my income Worldwide. I wish to know when I do pay CGTax in Australia, do I pay again or do UK charge a difference in relation to their tax rules? If so, how much will this be ? ie what are the %'s. Then do Uk obtain a credit from Australia? ( does HMRC have a CGT tax calculator for my Australian accountant to use to prepare?) Also can you recommend a UK Tax Accountant I can contact to work with my Australian Tax accountant if necessary ? Much appreciated 

Name removed admin 
Posted Thu, 02 Nov 2023 11:59:23 GMT by HMRC Admin 32 Response
Hi,

As UK resident you will need to report the sale in the UK. You can claim foreign tax credit relief for the Australian tax up to the maximum of UK tax that is due on that source. Further guidance is at:

Tax when you sell property

HMRC cannot offer any recommendations for an accountant.

Thank you.

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