askaquestion
Joined: 3/22/2025
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RE: When I sell my 50% of ownership of a property outside U.K.
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When I sell my 50% of ownership of a property outside U.K.
Dear Sir/Madam: My wife and I have a property outside the United Kingdom. The share of ownership is 50%-50%. I am going to sell my 50% share of ownership to my wife. (1) We have been living together since our marriage. And as such, we are living together during the fiscal year this transaction takes place. (2) There will be no money transferred between my wife and me in this transaction. (3) I will pay all the taxes in that country related to this transaction. My question is: Do I or my wife need to report this transaction to HMRC?