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Sale of overseas property within 9 months of migration
Hi, I have relocated to the UK via BN(O) Visa and sold my residential property (my main and only home) in Hong Kong within 9 months of arrival in the UK. I understand that I am not required to pay any Capital Gains Tax in this case as it will be fully covered by Private Residence Relief. I would like to enquire whether I will need to report this transaction when I fill in the self-assessment tax return. I have transferred the proceeds arising from the property sale from my Hong Kong bank account to my UK bank account. Do I need to declare this in the self-assessment as foreign income? Thank you very much for your kind help.