Ivan
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RE: Money from selling property oversea
Thank you. I lived in this house 5 years out of 7 years that I owned it as last two years I lived in UK. Under these circumstances, can I claim the corresponding proportion of the loss (2x12 - 9)/(7x12)? (distracting last 9 month or ownership) -
RE: Money from selling property oversea
Dear officer, Please help to clarify my case related to the same topic. I'm now a UK resident and sold my house in another country in the 2023-2024 tax year. The price of the house sale in GBP is less than the price I bought this house 7 years back in GBP (due to conversion rate changes). So, in GBP, I don't have any capital gain from this overseas house sale but have a capital loss. I transferred money from this sale to my UK bank accounts in 2023-2024 tax year. Questions in this context: 1) In case I don't want to report this as a Capital Loss now, should I report anything about this house sale and the money I transferred from abroad to the UK in my self-assessment to HMRC for 2023-2024? 2) In case if I want to report it as Capital Loss now in my 2023-2024 self-asessment, which section/form is to be used for this? (I don't have any positive capital gains on 2023-2024 tax year)? Thank you -
Reporting foreign house and car sale
Hello, I’m UK tax resident. In 2023-24 tax year I sold my house and my car in another country and transferred money from these sales to the UK. For my house sale: 1) this was my only house, where lived before move to UK 2) And I don’t have capital gain for the house sale, as I sold it for the lower price (if nominated in GBP) than the price I bought it 5 years back. Do I need to report this money transfer/income in my self assessment report: 1) for the house sale 2) for the car sale Thank you