Hi HMRC Admin,
It would be most grateful if you could answer my question please.
My case is very similar with above case which is (1) fully covered by private residence relief of my sold home. Because I sold my sole main residence home in Hong Kong within 9 months after we moved out from Hong Kong to the UK, which could covered by full PRR. I understand I do not have capital gain on my sold main residence home because of covered by full PRR and my sold main resident property disposal value of was more that £49200. In addition, (2) I have some minimal Hong Kong bank interests around 100 pounds in this tax year 2022/2023.
Could you please answer below questions -
Q1. Do I need to report to and obtain confirmation from HRMC for PRR on the sale of this residence in form SA 108? Or
Q2. Do I need to report to HRMC for (1) full PRR on the sale of this residence in form SA 108 (even though I do not have capital gain because it is covered by full private residence relief) and (2) fill-in form SA100 for minimal Hong Kong bank interests together?
Because HMRC Admin 19 replied in other case, which is similar with our case that do not need to pay CGT after deducting allowance and PRR. However, HMRC Admin 19's answer is different from HMRC Admin 25 replied in this case.
In this case, HMRC Admin 25 said "You wont have any capital gain as you are covered by full private residence relief so this doesnt need to be reported. You do need to declare the interest and as it is foreign income, a tax return is required."
In other very similar case, HMRC Admin 19 said "If you have to complete a tax return for any other reason and the disposal value of the property was more that £49200, you will need to declare the disposal in the capital gains section of your tax return. If you are not resident in the UK, you still need to declare the disposal of the property. Otherwise, there is nothing more to do on the matter. " Please find below link which replied by HMRC Admin 19 for your reference.
Q3: Thus, I am not sure that HMRC Admin 25 or HMRC Admin 19 advice is correct.
If I follow HMRC admin 19's advice, because I have to complete a tax return for my Hong Kong bank interests, which is any other reason, and my sold main resident property disposal value of was more that £49200. I need to submit SA100 and SA108 form. Even though I understand I do not have capital gain on my sold main residence home which is covered by full PRR.
If I follow HMRC admin 25's advice, I only need to submit form SA100 and do not need to submit form SA108. Because of I do not have have any capital gain as I am covered by full private residence relief so this doesnt need to be reported.
I would be most grateful for your advice. Many thanks for your help.