Double Tax Agreement on property sold in Cyprus?

Double Tax Agreement on property sold in Cyprus?

9:33 AM, 19th April 2021, About 3 years ago 2

Text Size

I moved back to the UK 7 years ago from Cyprus. I have dual citizenship for both countries. I bought a flat in Cyprus in 2003 where I lived until 2013 when I moved to the UK and moved into my partner’s house until today 2021.

I sold my flat in Cyprus in 2019 and paid all taxes and capital gains tax there.

I left my money in my Cyprus bank account as I was going to buy another property. Things have changed, and I am now wanting to buy a property in the UK and will want to bring over my savings and money made when I sold my flat.

How do inform HMRC?

Is the money received for the flat taxable even though I paid tax in Cyprus? Also, my savings were made while I lived and worked there, so I assume they are not taxable?

Any help or advice appreciated.

Eleni


Share This Article


Comments

Bill

11:34 AM, 24th April 2021, About 3 years ago

You should have informed HMRC in 2019 if you were then resident in the UK.

Heather G.

13:09 PM, 27th April 2021, About 3 years ago

Were you in the North or the South as that may make a difference to how tax is applied i.e. EU vs non-EU?

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now