Megan Straw
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Residence transferred in divorce before relocating abroad
Hi, Am hoping someone from HMRC can clarify this for me. In the process of divorce, I recently transferred my half of the primary/main residence (only property owned by myself and ex) to my ex. The funds from the sale arrived in my UK bank account on 4 Nov; I have not yet received paperwork from his conveyancers saying it has been completed but they're dreadfully slow at their admin so am assuming 4 Nov was completion date... However, as of 5 Nov, I have relocated back to my native Australia, becoming a tax resident there upon my return. As the house was sold when I was still UK tax resident, the HMRC Private Residence Relief calculator says I do not need to report the sale nor have any CGT on it. Is that correct? I will be filing a tax return at end FY 2024/25 as was self employed in UK until my departure; do I need to report it on there if PRR is valid? With thanks in advance