Split year treatment

Hi Team I sold my sole overseas residential property in Jun 23 and arrived UK in Nov 23. I am qualified for split year treatment for tax year 2023/24 - do I need to declare/ report this property sales transactions (my overseas part under split year treatment before I became UK tax resident from Nov23) for 2023/24 tax filing? Many Thanks.

Hi,

You need to complete a tax return to claim split year treatment. You would only include in the tax return, your UK income and capital gains for the whole tax year and your foreign income and capital gains for the period you were resident in the UK. As you were not resident in the UK at the time of disposing of your residential property, any gains would not be taxable.

Thank you.