Holiday home abroad sale

In May 2023 I sold my holiday home in Spain. I will include this on my self assessment return for 23/24. I calculate that around £4,000 would be due in CGT, except that already £5,205 has been deducted as Spanish cgtax. Presumably this can be offset against the 4K meaning no tax payable...... Can I do this all on my s/assessment return, or is there something else I need to complete in order to offset? Thanks.

Hi zontes,
In your UK Self Assessment tax return, you can claim a Foreign Tax Credit Relief (FTCR) of up to 100% of the capital gains tax paid in Spain.
If the tax paid in Spain will be more than the capital gains tax payable in the UK, your FTCR would equal the UK tax payable.
In this way, you are not paying the same tax twice.
Thank you. 

 

Thank you: Should I therefore submit SA100, SA108, and SA106? Any others... 1) In completing SA100, should I answer yes to ss:5, 7 &9? 2) In completing SA108 do I complete foreign holiday home in 3 to 13, or 14 to 22? 3) do I need SA106 to declare FTCR deducted in Spain? Where do I enter CGT on SA106? Thanks!!

Hi zontes,
Guidance on how to complete your return is here:
How to complete your tax return for Self Assessment
Also each additional section has its own set of notes to help:
Self Assessment tax return forms
Thank you.