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Posted Fri, 26 May 2023 08:46:04 GMT by
Hi, I have non standard case here. I ceased to be resident for tax purposes in the UK on 1/3/2023 and qualify for a split tax year on 22-23. I sold my house and exchanged contracts on 21/3/2023 with completion date 6/7/2023. I qualify for private residence relief because the house has been my only home for the whole period since I bought the house except the last 4 months (but the last 9 months are included anyway in the private residence relief). Hence I do not have to pay CGT. My question is, do I still need to report this and claim private residence relief on this year self assessment (given the exchange date was on last fiscal year) or not?
Posted Fri, 26 May 2023 16:42:39 GMT by HMRC Admin 10
Hi
As you are now classed as non resident, you still need to report the sale of UK property even if no tax is due.
Thankyou.
Posted Fri, 26 May 2023 17:33:32 GMT by
Thanks for confirming this. I already submitted my self assessment for last year without reporting it. If I understand correctly I need to amend it as the exchange date (21/3) was in previous tax year. Even if the completion will be (6/7) this tax year. Right?
Posted Wed, 31 May 2023 12:50:08 GMT by HMRC Admin 25
Hi c_cantore,
That is correct.
The July date is for it to be formally reported on the property disposal return:
Report and pay your Capital Gains Tax
Thank you. 
 
Posted Wed, 31 May 2023 13:09:17 GMT by HMRC Admin 25
Hi TFirth1,

If you are a part-time spread betting trader, you are tax-free.
If you are a forex trader that total income and annual capital gains are less than £50,270, you are subject to a 10% capital gains tax (CGT).
If you are a forex trader that total income and annual capital gains are more than £50,270, you are subject to 20% capital gains tax (CGT).
Thank you. 
Posted Mon, 10 Jul 2023 14:40:21 GMT by
Hi, I am referring again to the query I started in this thread over a month ago. Note that the last reply from HMRC Admin 25 seems to be related to another query. What I did is to modify my self-assessment and added the CGT for to report the sale of the house as I was non-resident at the time of exchange (21/3/2023) even if I claimed private residence relief. Now I have completed on the property last week. I was under the impression that I also had to report it on the property disposal return but we I tried to fill it in it says that I cannot use the service because I already filed in a self-assessment. My question then is: is that enough for me to have reported the disposal of the property on my self-assessment and does it cover also the 60 days property disposal return? or do I need to do something else? thanks
Posted Fri, 14 Jul 2023 11:56:19 GMT by HMRC Admin 8
Hi,
In answer to your original question.  
As you are not resident in the UK, but disposed of a UK property, you are required to report the disposal to HMRC, regardless of whether a gain or loss arises.  
As you have reported the disposal through your self assessment tax return, you cannot then use the online capital gains service.  
There is nothing more that you need to do regarding the propety disposal.
Thank you.

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