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Posted Thu, 07 Nov 2024 00:20:19 GMT by Megan Straw
Hi, Am hoping someone from HMRC can clarify this for me. In the process of divorce, I recently transferred my half of the primary/main residence (only property owned by myself and ex) to my ex. The funds from the sale arrived in my UK bank account on 4 Nov; I have not yet received paperwork from his conveyancers saying it has been completed but they're dreadfully slow at their admin so am assuming 4 Nov was completion date... However, as of 5 Nov, I have relocated back to my native Australia, becoming a tax resident there upon my return. As the house was sold when I was still UK tax resident, the HMRC Private Residence Relief calculator says I do not need to report the sale nor have any CGT on it. Is that correct? I will be filing a tax return at end FY 2024/25 as was self employed in UK until my departure; do I need to report it on there if PRR is valid? With thanks in advance
Posted Tue, 12 Nov 2024 11:51:35 GMT by HMRC Admin 34 Response
Hi,
If you were a UK tax resident in the tax year that the property was disposed of and no capital gain arises, there is nothing you need to report to HMRC. If you were not UK tax resident, you need to report the disposal within 60 days of the completion date at:
Report and pay your Capital Gains Tax
Thank you

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