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Posted Mon, 18 Sep 2023 02:19:48 GMT by GBourne
My wife and I are both dual nationals (UK / Aus), originally from the UK. We've decided to move back to the UK to be closer to family, and have sold our principle place of residence (PPOR) in Australia and intend to use the proceeds for a deposit in the UK. Given it was our PPOR in Australia, there was no tax due to the ATO. If we transfer the money, will we be liable for any tax in the UK? Do we need to notify any government bodies / the bank in advance? Thanks in advance!
Posted Wed, 27 Sep 2023 10:07:29 GMT by HMRC Admin 10
There is no UK tax implication on the transfer of the capital.
You will need to declare any interest or dividends that it then generates whether in the UK or in Australia.
You should contact your bank direct to see if they need any other details.

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