Hi. I am a British born UK citizen.
I bought a property in India (Goa) in 2005 and set up a bank account in Goa from which to send money from the UK to that account in order to make relevant payments for the property during its build, to completion.
I sold the property in 2016 and all proceeds from the sale were deposited into another Indian bank account (simply to keep it separate from my other account in India).
I have paid all the relevant CGT in India and any other liabilities associated with this sale.
Since hearing a Moneybox programme recently I am querying whether I also should be paying CGT in the UK from the sale. Please note: no monies from this sale have been transferred to the UK as yet (I intend to transfer the money but not yet and know then that I will be liable for more taxes) so I want to know if anyone can advise me on the procedure and what I would likely to be taxed, and why since the money is still in India.
Many thanks
punita126
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