Do I need to declare sales of property and rental income?

Hi, I arrived to the UK on 30th Apr2022 from HK. I have a property sold just before I left HK. The agreement was made from solicitor on 27th Apr 2022 between myself and the buyer , 10% of total selling price was received on the same day as deposit. The trade has completed on July 2022 and the remain 90% was received. The property was purchased from 2012 as my home until Apr 2021, The property was rented out in the period between Apr2021-Jul2022 . My questions are whether I need to declare 1) Capital gain on the 90% remains received after I lived in the UK? (If yes, is the capatal gain calculated from the time I moved out the property to the deal completion date? (i.e. Apr2021-Jul2022) 2) Rental income received while I was in the UK (i.e. between May-Jul2022)? Thanks,

Hi,

There may be Capital Gains Tax to pay, as the property was disposed of while you were resident in the UK. You may find that private residence relief will cover any gain that arises, so you would need to work out if a charge to capital gains tax arises. You will need to convert the buying costs to pounds sterling, using the official exchange rate in force at the time of purchase, including purchase costs such as legal fees. 

CG15250 - Expenditure: incidental costs of acquisition and disposal

You will also need to do the same with the disposal value and selling costs. There is a calculator below which you can use to work out any gains.

Tax when you sell your home

If a gain arises and tax is payble, you will need to report the gain on a Self Assessment Tax Return.

Thank hyou.