Property sold

I am a uk national who has been resident abroad for 12 years. I sold my home and so became non resident and have returned to the uk. I sold at a loss. Do I declare this as a capital loss on my tax return? And where would it be declared? UK or abroad? I intend to use the money from the sale to buy a permanent home in the uk. Do I need to declare it at all in the uk in that case? .

Hi,

If it is a UK property that has been sold whilst you were non resident then, yes, You can see guidance here:

Report and pay your Capital Gains Tax

Thank you.

It was a property abroad and I was resident abroad on the day of the sale So, what do I do?

Hi,

Please refer to:

Tax when you sell property

Thank you.

Hi , I’m BNO Visa UK resident .And I was sold the main resident property In UK which is joint ownership with my partner. The property was sold (completed)at Dec 2023 .During we own the property,we only have that property and we live in the property. Until now we planing buy another property for our main living property.(We are not at the seamless headover to buy next property.) For my understanding we are enabled apply Private Residence Relief is correct? If we are enabled apply Private Residence Relief,do we need to declare the Capital Gains to HMRC? and if yes which form for declare the Capital Gains? Thank you for much !

Hi kmc,
Private Residence Relief is availabe for the period of time the property was your main residence, over the period you owned the property.
If Private Resident Relief can cover your gain, there is not Capital Gains Tax to pay and nothing to declare.
If there is tax to pay, you need to report and pay the Capital Gains Tax within 60 days of the completion date.
Please have a look at the guidance here:
HS283 Private Residence Relief (2024)
There is a Capital Gains Tax calculator here:
Capital Gains Tax
To help you work out your gain and also a link to register for a capital gains account to report and pay your Capital Gains Tax liability.
Thank you.