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Posted Wed, 01 Feb 2023 18:18:35 GMT by Yumkwan Choi
Hi, I am going to sell an oversea property and there will be a capital gain. I have 2 questions to ask: 1. if I do not remit the capital gain to the UK, do I have to pay capital gain tax for the tax year? 2. if the above question is negative, do I still have to pay capital gain tax if I remit the capital gain in the future? Thank you in advance for your answer. Raymond
Posted Tue, 07 Feb 2023 15:31:52 GMT by HMRC Admin 17

Residents of the UK who dispose of overseas properties are chargeable to Capital Gains tax.

However if you are not domiciled in the UK, you can choose to pay tax on your foreign income and gains using the remittance basis of taxation.

Please refer to RDR1 for further information.   

See Link:

Guidance note for residence, domicile and the remittance basis: RDR1  .

Thank you.                                                                   

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