mxjacques
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Capital Gains Tax on sale of property overseas - Double Tax Agreement in place
I understand there is a double tax agreement ( DTA) in place between UK and Mauritius. My wife and I we bought a house in Mauritius in 1993, the house was sold in February 2024. The house was our main residence until September 2009 before the family moved to the UK. On sale of the house in February 2024, Land Transfer Tax (5% of sale value) was paid to authorities in Mauritius. Questions: 1. Is CGT payable, though Land Transfer Tax was paid to Mauritian authorities in February 24? 2. Does the DTA apply to reduce or nullify CGT? 3. If CGT is payable, how is it calculated, taking account of currrency differences in 1993 and 2024 and the fact that the property was our main residence till 2009? 4. If CGT is payable, how is it divided between me and my wife? Thanks very much