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Posted Wed, 20 Nov 2024 19:30:25 GMT by ndacdt
Hi, I sold a property in India (joint ownership) in Nov'24 and my share was less than £50000. And i have remitted my share to my UK bank account. I am on full time employement in the UK. I have used hmrc exchange rate excel/xml sheets to calculate the price of property at the time of buying and selling. Also, I have used hmrc capital gain tax calculator and it shows taxable gain as zero and tax to pay zero. 1.) Do I need to file Capital gain tax return using self assessment ? 2.) If yes, by when should I file the self assessment ? Is there any deadline ?
Posted Tue, 26 Nov 2024 17:18:01 GMT by HMRC Admin 10 Response
Hi
If no tax to pay, this would indicate that a loss has been made. You will need to report it in order to have the losses noted so that they can be used against any future capital gain.

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