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Posted Wed, 07 Aug 2024 13:59:36 GMT by Jack William
The funds for the purchase of the new property in the UK originate from the sale of a property from other country, which was jointly owned by my husband and myself. We have chosen to register the new property under my name alone for practical reasons; primarily, my husband’s busy schedule makes it more convenient for me to handle any future legal procedures. My husband intends to contribute financially to this property purchase, but the property under my name. Are there any additional taxation, charges, or costs involved? Alternatively, if we decide to register the property jointly (both our names), would there be any different tax implications? Thank you for your assistance.
Posted Tue, 13 Aug 2024 11:46:44 GMT by HMRC Admin 19 Response
Hi,

There are no Income Tax implications when individuals use the proceeds of the sale of an overseas property to purchase a UK property.

We are unable to comment on whether any additional non-tax charges or costs would be incurred.

Thank you.

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