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Posted Mon, 11 Nov 2024 09:32:35 GMT by kambylai
I signed a purchase contract and paid a 10% deposit in November 2014 for an off-plan property in Hong Kong. The full payment was completed in March 2015. The property remained under construction until August 2016. I received the keys and began occupancy in September 2016. I recently signed a contract to sell the property in November 2024, with completion anticipated in January 2025. Could you tell me when the Period of Ownership for CGT purposes begins? Thanks!
Posted Wed, 13 Nov 2024 12:56:46 GMT by HMRC Admin 17 Response

Hi,
 
Your period of ownership begins on the date you first acquired the dwelling house, or on 31 March 1982 if that is later.

It ends when you dispose of it.

If you acquire land on which you build a house, your period of ownership begins at the time the dwelling-house comes into force .

Thank you .

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