Reporting CGT on Overseas Property sale

Hi marlena_r101010,
Please refer to Report and pay your Capital Gains Tax
Thank you.

 

Hi Two general questions please on reporting CGT on overseas property sale 1. For an overseas property gifted in 2008 and sold in 2025 how can the market value in 2008 be determined for CGT purposes if the market value was not calculated on the date of the gift? Is a local estate agent/valuer's assessment acceptable? 2. For an overseas property sold in say March 2025, does the transaction have to be reported within 90 days or is there a different time limit for overseas property? Many thanks

Hi, Grateful if someone is able to answer my question above please re CGT on overseas property sale. Many thanks,

We sold our property in Portugal in 2023 and have each completed our Self Assessment for the year 23/24 and have until 31/01/25 in which to pay our CGT here but are still waiting on Portugal to tell us whether or not there is any tax to pay and if so how much we could owe them on the sale. What do we do if we have still not heard from them before payment is due here - do we pay our CGT here and then apply for a refund if we have to pay tax to the Portuguese authorities.

Hi Sidney Zafar,
In reply to your questions.
1. yes you can get an estate agent to give you a valuation based on similar properties sold at the same time it was inherited.  
2. foreign property does not get reported on the property disposal form.
For sales up to 5/4/25, this would be reported on the 24/25 tax return and you have until 31/1/26 to file.
Thank you.

Many thanks HMRC 20 for the clarification. Much appreciated. S

Hi ,

You will need to submit your tax return by 31 January 2025, regardless.  Please report the disposal of the property.  You can amend your tax return at a later date to declare the Portuguese capital gains tax paid and claim a tax credit. Thank you .

Hi, If I sell my German home , then move to the UK and buy a home, do I need to pay CPT on the sale of my German home ( if I sell it before I move but in the same tax year?)

Hi Denise,
Not in the UK.
Thank you.

Hi, I'm a UK resident the past 2 years, and recently sold my overseas (Rep. Of Ireland) residential property. I had to go through a tax clearance process in ROI so the solicitor could distribute funds. This clearance has just been completed. The property was sold at a loss so there was no CGT due. I'm just wondering if there is there anything I need to declare in UK as I want to transfer the money from the sale to my UK bank account? Thanks, Paul

Hello Will I pay tax on a capital gain that I invest on a new capital within the year I am meant to be taxed? For example, if I sell a property abroad and the following year I use that money to buy either a property for renting in the UK or a property as my own only domicile in the UK, will I be taxed 25% on the initial capital gain from the sale of the first property? I am a UK citizen

Hi Paulj20,
You also need to declare the sale in the UK. You can claim Foreign Tax Credit Relief for the Irish tax paid to set against any UK liability. You can see guidance here:
Capital Gains Tax: what you pay it on, rates and allowances
Thank you.

Hi ivan23,
Please refer to:
Capital Gains Tax: what you pay it on, rates and allowances.
Thank you.

Hi, I am a UK resident and report my taxes via Self Assessment. I am planning to sell a property in Hungary on 30 April 2025. I understand that I have to report this sale in my Self Assessment for 2025/2026 and that I have until 31 January 2027 to pay the CGT. Is this understanding correct? Thanks

Hi Susan45,
Please find guidance here: 
Capital Gains Tax: what you pay it on, rates and allowances.
Thank you.

Thank you Admin 21. I looked at the inof in the link you provided but this does not seem to answer my queries. This appears to refer exclusively to UK property or non-UK residency. Neither is the case as I am a UK citizen and my query relates to a foreign property.

Hello, I have sold a property in South Africa on 16 Jan 2025 from the other questions and answers in this forum and from consulting an advisor in South Africa I don't have to pay the CGT within 60 days as I first have to pay CGT in South Africa and then declare it for UK tax year 2024/2025? Thank you

Hi, I moved to the UK with my parents 3 years ago. They sold their join owned residential flat in Hong Kong last year and need to report the overseas CGT on self assessment in coming financial year. In addition, they gifted me the money to buy a new house in UK to live with them. I have some questions. We will declare the tax in paper forms. 1. I need to declare the capital gain with the form SA108? 2. To show the calculation, should I need to print the computation work sheet (last page) of the Capital Gains Tax summary notes in HMRC 3. Where should we put the additional information such as such as dates of buying the flat, the date of leaving the flat,.... ? In box 54 on SA108?

Hi Susan45,
As UK resident, you still need to report:
Report and pay your Capital Gains Tax
Thank you. 

Hi NZAINA,
The 60 day rule only applies to UK residential property.
You will declare the foreign property gain in your 24/25 tax return.
Thank you.