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Posted Thu, 14 Sep 2023 08:30:12 GMT by SaSa
Hi, I’ve got the BNO Visa and moved to UK in June 2022. I had a flat in Hong Kong which my family and I was used to live in it as our home since I married with my husband. After we moved to UK in June 2022, I sold this flat in October 2022 with some gain. I have fulfilled all of the below criteria (which is quoted from https://www.gov.uk/tax-sell-home) Private Residence Relief You do not pay Capital Gains Tax when you sell (or ‘dispose of’) your home if all of the following apply: 1. you have one home and you’ve lived in it as your main home for all the time you’ve owned it 2. you have not let part of it out - this does not include having a lodger 3. you have not used a part of your home exclusively for business purposes (using a room as a temporary or occasional office does not count as exclusive business use) 4. the grounds, including all buildings, are less than 5,000 square metres (just over an acre) in total 5. you did not buy it just to make a gain If all these apply you will automatically get a tax relief called Private Residence Relief and will have no tax to pay. ———————————————————————- My question is: Do I still need to file any self assessment or any tax return related to the above gain? As I fulfilled all of the above criteria, I can automatically get a tax relief called Private Residence Relief and will have no tax to pay. Could you pls confirmed with me that I am correct? Thank you very much.
Posted Thu, 21 Sep 2023 14:15:32 GMT by HMRC Admin 19 Response
Hi,

You can see guidance here:

HS283 Private Residence Relief (2023)

If you satisfy all the conditions and are entitled to full Private Residence Relief on your property and have no gain to report you do not need to do anything further.  

Thank you.

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