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Buying property in UK after selling HK property

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  1. #11
    Quote Originally Posted by meinhkhk:
    If you are a UK passport holder then bear in think the CGT implications. general advice seems to be move the money to the UK in one tax year and take up domicile in the next. You have time to do that now
    Im a UK passport holder and left UK back in 2011. I assume i am UK resident non domicile as I have a permanent home in Hong Kong? If i move money to UK in one tax year and take up domicile in the next, am I still liable for CGT? Thanks in advance

  2. #12
    Original Post Deleted
    makes a lot more sense now! thank you very much

  3. #13

    Join Date
    Feb 2016
    Posts
    165

    Thanks deleteduser for clarifying about the disposal date.


  4. #14

    Join Date
    Nov 2019
    Posts
    2,279

    Will the U.K. property be your main residence? See attached

    https://www.gov.uk/tax-sell-home


  5. #15

  6. #16
    Quote Originally Posted by meinhkhk:
    Also if you buy in the UK whilst based overseas you get to pay an additional 3% SDLT. If you can, complete the purchase after you become domiciled in the UK to avoid this extra sum
    Do you know if I can still be classed as a first time buyer in the UK even though I have previously owned a property in Hong Kong? Wondering if I will need to pay additional stamp duty as no longer a first time buyer...

  7. #17

    Join Date
    Nov 2019
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    2,279

    If you own property (still holding) anywhere in the world, you are not classed as a FTB. However, if you sell before you buy, you would be a FTB.


  8. #18
    Quote Originally Posted by ArrynField:
    If you own property (still holding) anywhere in the world, you are not classed as a FTB. However, if you sell before you buy, you would be a FTB.
    thanks! <3