taxhounter

Hi, I'm a UK tax resident however what if the case I didn't make any gain by selling the property, which are taxes are implied in transfering funds to the UK? Can you please provide clear explanation and examples. Thank you

Dear HMRC, I hope this message finds you well. I am writing to seek clarification on my tax obligations in the UK concerning funds that I plan to transfer from Europe. I am a UK resident and I recently sold a property in Italy. The proceeds from this sale will be transferred to a UK investment account. These funds are not intended for the purchase of any goods or services within the UK but rather for investment purposes. Could you please advise if I am required to pay any taxes on these funds once they are transferred to the UK? Additionally, I would appreciate any guidance on how to correctly declare this transfer to ensure compliance with UK tax regulations. Thank you very much for your assistance. I look forward to your response. Kind regards,