Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 29 May 2024 19:38:11 GMT by S Lawrence
I was previously a non UK resident residing in USA for 5 years. I owned a house there with my husband and we sold it in May 2023 prior to moving back to the UK a couple of days later. I'm trying to fill in my self assessment for 2023/2024 but I'm confused about the capital gains section. I know you don't pay capital gains when you sell your home if it's your primary residence, but does that still apply if the home is overseas? We didn't own any other property at the time of the sale. When we moved to the UK we moved into rented accommodation. Do I need to declare capital gains?
Posted Tue, 04 Jun 2024 08:50:47 GMT by HMRC Admin 5 Response
Hi 

You need to follow the UK rules for calculating capital gains tax.  
This allows you to claim private residence relief for the period the at the property was your main residence, plus an additional 9 months.  
If the total number of months the property was your main residence equals or exceeds the number of months you owned the property, then no UK capital gains tax is payable.  
As the property disposal was overseas, you still need to report the disposal in your tax return.

Thank you

You must be signed in to post in this forum.