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Posted Wed, 18 Sep 2024 07:41:29 GMT by kartikey kaushik
We (wife and I) bought a property (apartment) in India in May 2016 for INR 9,800,000 and we paid INR 150,000 for registration/stamp duty. We lived in at property from June 2016 to August 2021. We moved to UK in August 2021 and in June 2023 we sold the apartment in India for INR 15,500,000, incurred some INR100,000 in fee/commission. We used part of the proceeds to pay the down payment on our home purchase in UK. We paid 30% tax on the transaction price in India. While we will get most of it back in refund (hopefully) as CGT in India is calculated on a inflation adjusted basis. Questions I have: 1. When we file for return in UK, I will include the transaction, what exchange rate (INR to GBP) I shall include for the transaction price? 2. Can I claim the registration/stamp duty and fee/commission as expense for CGT calculation? 3. Does UK use inflation indexation while calculating CGT? Where could I find the CGT calculation methodology please? 4. Can we adjust the CGT in UK for the CGT paid in India, does India and UK have a tax treaty? 5. Is there any other relief we could claim, given it was a residential property and was used for living purpose? 6. Any relief from the fact that we used most of the proceeds for the down payment for our UK home? Thanks in advance. Questions:
Posted Thu, 26 Sep 2024 11:12:27 GMT by HMRC Admin 25
Hi kartikey kaushik,
This forum is for general queries only and is intended to help you self-serve.
Unfortunately, we are unable to provide specific advice tailored to individual circumstances or offer any interpretation of the guidance. 
Please take a look at the guidance provided here: 
Capital Gains and Property Income Manuals
Customers with more complex enquiries often engage the services of a professional advisor or accountant and this may be something you wish to consider.
Thank you. 

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