Dear Advisors,
I have a pretty interesting case and need some guidance
2015: Invested money to buy a property abroad
2016: Property not developed by Developer
2017: Developer refunds capital with a compensation for opportunity lost
Questions:
1. Is compensation considered Capital gains or Foreign Income
2. Is taxable amount calculated in £ terms
3. Tax was paid on the compensation in country of origin
3. Will UK self assessment require additional pages for both Capital gains (tax on compensation) and Foreign income (relief on tax paid)
Please advice.
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