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Where Taxpayers and Advisers Meet

Bringing money to UK from sale of property abroad

Alesm
Posts:1
Joined:Mon Sep 17, 2018 10:51 am
Bringing money to UK from sale of property abroad

Postby Alesm » Mon Sep 17, 2018 10:59 am

Good afternoon, I am selling property abroad and would like to bring the funds here to UK to use as a deposit for our new home. Can you tell me how to declare it and what tax will be applied please? It's around £80k.
Thank you

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Bringing money to UK from sale of property abroad

Postby maths » Wed Sep 19, 2018 2:05 pm

Assuming you are resident and domiciled in the UK the gain is subject to UK capital gains tax with an offset for any overseas tax paid on the gain.

UK gain computed in £.

Rate of CGT will be 18% and/or 28% depending upon level of your other income.

Declare gain on Capital Gain Supplementary Pages of Tax Return:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/690350/sa108-2018.pdf


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