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Posted 7 days ago by Ros Farrell
If the CGT due is paid in the EU country where the land is sold, is there any CGT due in the UK and what are the reporting requirements in the UK please?
Posted a day ago by HMRC Admin 20 Response
Hi Ros Farrell,
Please refer to the following Links & Guidance - Tax when you sell property Selling overseas property
Thank you.
Posted a day ago by Clive Smaldon
Not HMRC...you need to check the UK DTA for the country the land was sold in, to see if UK can also tax it (presumably UK tax resident?)...usually its also taxable in the UK with a foreign tax credit...but not always...if it is the gain is also calculated on UK rules (which can be totally different than the rules in the original country), it may lead to more tax being due in the UK (after the tax credit) as UK CGT is based on different marginal tax rates than the other country, or if the same or less is due on UK rules then the foreign tax credit covers it but you cant reclaim the difference...like I say thats USUALLY the position, but check the DTA, if it says the countries MAY both tax it then its liable in the UK

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