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Where Taxpayers and Advisers Meet

Capital Gain Tax overseas income

Soumya
Posts:1
Joined:Sun Jan 10, 2021 10:01 pm
Capital Gain Tax overseas income

Postby Soumya » Sun Jan 10, 2021 10:53 pm

Hi,

I have recently sold my property in India and tax was deducted at source which equates to more than UK Capital gain. As such I understand I will not require to pay any Capital gain tax for this year under double taxation treaty.

In India I have filed income tax returns and invested in government bonds as such I am entitled to receive TDS refund next year.

When I get this TDS refund, will it be taxable in the UK and if yes will I be eligible for 12k annual deductions.

It will be great if anyone can please help re: this query.

Regards,
Ranjith

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