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Posted Tue, 05 Jul 2022 10:58:20 GMT by Don L
Hi HMRC admin, Context: - I came from Hong Kong to the UK on 10th September 2021 and stay here since then, therefore becoming a UK tax resident in 2021-2022. - I sold my home in Hong Kong on 30th September 2021, i.e. 20 days after I came to the UK. That was my only home and I lived in it since I purchased it until I came to the UK. Questions: (a) Am I correct that I am qualified for full Private Residence Relief and hence there is no need to pay any CGT for the above sale? (b) Assuming my understanding in (a) is correct, do I need to report the sale and the capital gain to HMRC in a self-assessment form (or by other means) and then apply for Private Residence Relief? Or is the Private Residence Relief automatically applied and I have nothing to do in this regard? Thank you so much. DL
Posted Wed, 06 Jul 2022 07:42:45 GMT by HMRC Admin 19

On the basis of the information you have provided, you are eligible for full Private Residence Relief , there will be no capital gain and you will not have to report the transaction in a Self Assessment tax return.                                              

You can see information here:

HS283 Private Residence Relief (2021)

Thank you.

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