WH
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Overseas property
Hello, I became a UK tax resident on 3 January 2023. I own a property overseas and am planning to sell it. I purchased the property in June 2017 and lived in it as my main home until February 2021. From March 2021 to March 2023, I let it out (as the flat was too small for my family, and we rented a larger one). Since April 2023, the property has been occupied by my family (as I have relocated to the UK). I am aware of the government's introduction of a policy in the Spring Budget 2024, offering 100 percent UK tax relief on foreign income and gains for the first four years for new arrivals. Do I need to pay Capital Gains Tax if I sell it within my first four years of residency (January 2023 to January 2027)? If so, how should I calculate the tax?