John Davies

Here's a further question on selling overseas property. I now have an indication that the CGT I will pay in Spain is going to more than my calculation of CGT here in the UK (24%). 1. Therefore do I have to declare CGT on a UK tax declaration for this year. 2. If the answer is yes, do I pay the CGT here and then claim it back? 3. If the answer is yes to 2. How does one claim it back with the operating double taxation agreement with Spain?

Hi this Q and A forum is very useful understanding the complexities of owning a property abroad and selling it etc. We are now in the tax year 2024/25 so reporting CGT on a property sold now can be done on our next year's tax declaration ie by end Jan 2025? But what is the "real time system" as stated in the above answer? Thank you