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Posted Tue, 14 Nov 2023 16:58:21 GMT by
Hello I have sold my buy to let property in HongKong recently. I am filling in captial gain form in my self assessment tax return. However, I cannot find a box related to oversea property in capital gain form. Under my understanding, I shall only pay £30,000 remittance basis charge and do not need to pay captial gain tax if I make a claim remittance basis. But after I fill in residence status form , remittance basis form and captial gain form, the final calculation is the total of £30.000 and capital gain tax. I am wondering if the system thinks the property is UK property by default. Can anyone help please? Many thanks 

Name removed admin 
Posted Thu, 16 Nov 2023 16:55:45 GMT by HMRC Admin 25 Response
Hi Carolyn gong,
Please refer to:
Residence, remittance basis etc notes
For how to complete the resdience pages and boxes 34,35 and 36 in relation to the remittance basis charge and capital gains.
Thamk you. 
 
Posted Fri, 17 Nov 2023 10:23:38 GMT by
Thank you for your reply, One more question, I have lived in the UK for six years. So I am on a remittance basis by default? or Can I choose on Arising basis? Thanks
Posted Wed, 22 Nov 2023 07:28:14 GMT by HMRC Admin 25 Response
Hi Carolyn gong,
You can choose which is more beneficial to you.
You may lose entitlement to allowances depending on your level of income.
See further guidance at:
RDRM32040 - Remittance Basis: Accessing the remittance basis: Claiming the remittance basis: Loss of Personal Allowances and the Annual Exempt Amount
Thank you. 
Posted Fri, 01 Dec 2023 12:17:36 GMT by
Thank you. I am filling up Disposal section of the capital gain form, However, I cannot find a box labeled overseas property. 1, How can I let HMRC know it is an overseas property? Thanks Caorlyn
Posted Tue, 05 Dec 2023 11:47:45 GMT by HMRC Admin 10 Response
Hi
If you are completing yoru tax return online, you select yes for the capital gains option.  
You also click yes for the foreign section.  
In this way, you declare the capital gain and in the foreign section you can declare any foreign tax paid.
 If you are completing a paper tax return, you would complete SA106 and SA108.
Posted Tue, 05 Dec 2023 12:45:36 GMT by
Thank you I am using a paper tax return. I didn't pay foreign tax as no capital gain tax for buy to let property in Hong Kong. So I cannot claim foreign tax relief. As I claimed remittance basis and non domicile, under my understanding, I don't need to pay capital gain tax due to no remitting the gain into the UK. My question is when I fill in Tax Calculation Summary form, I shall fill in capital gain tax or not? Thanks.
Posted Thu, 07 Dec 2023 11:08:08 GMT by HMRC Admin 25 Response
Hi Carolyn gong,
If claiming the remittance basis and you haven't transferred any of the funds then no capital gain page is required in the year of the sale.
Please refer to further guidance here:
Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you. 

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