Elly

Hi, I need to travel twice to overseas to sell my individual residential property and pay for money transfer fees when transferring the money back to UK. Could these traveling and money transfer expenses be regarded as costs of disposal of the overseas property?

Hello HMRC, we have not immigrated to UK and not UK resident when we purchased our overseas property. We purchased with local currency and later sold with local currency when we have immigrated to UK and become UK resident. So do we still have to report our purchase cost by converting to sterling based on the exchange rate published at the time of purchase? It will make the capital gain unrealistically high due to sterling is very strong at our purchase time and very weak now when we sell the overseas property.

Hello HMRC, while we have imigrated to UK under BNO visa in 2021 plus owned a house in UK and paid additional tax when buying the UK house as our second property, can we elect our overseas house as our main home and claim private residence relief for further 4 years as our job/studies in UK prevents us from living in our overseas house? We have not declared as non dom. And can we later elect our UK house as our main home after we sold our overseas house? Furthermore, if you're aware whether electing an overseas house as our main home will make this period of our stay in UK not counted towards our overall period of residency when applying for infinite leave to remain and citizenship? Thank you.