J Chan
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RE: Transferring personal money to UK
I am a UK tax resident and on domicile status. I intend to sell my overseas property and then transfer the proceeds to the UK. Apart from capital gain tax that I need to pay, do I need to pay any tax for the transfer of such proceeds to the UK? Also, I lived in the above overseas property for around 10 years before I move to live in UK, do I entitle to the Private Residence Relief when I sell such property? Kindly advise. -
ney received from relatives
I am a UK resident and will become domicile status after 6 April 2025. My spouse is not a UK resident who has been working in Hong Kong and sends me money on a monthly basis to support my living expenses in the United Kingdom. His income is taxable in Hong Kong. Do I need to pay any UK tax on such money received from my spouse? Kindly advise. -
Capital gain tax on overseas property sale and move money to the UK
I have immigrated to the United Kingdom (UK) since 2019 and is now under settled status of the EU settlement scheme. I know I will also become domicile status after 6 April 2025 (after a change of non-domicile tax regime): 1. My spouse has been working in Hong Kong (HK) and sends me money on a monthly basis for my and my child's living expenses in the UK. His income is taxed in HK. Will the money (assuming no savings interest incurred) that I receive from my spouse to support my living expenses in the UK be subject to UK tax after 6 April 2025? 2. I intend to sell my property in HK and move the money from such property sale to the UK to support my living expenses here. Is it true that I have to pay capital gain tax on such sale proceeds (as I have another flat in the UK) and any exemption (e.g. private residence relief) that I can obtain? Apart from the capital gain tax, any other tax that I have to pay for the transfer of such sale proceeds to the UK before and after April 2025? Your advice please.