Double Tax Agreement on property sold in Cyprus?
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
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Member Since April 2014 - Comments: 136
11:34 AM, 24th April 2021, About 5 years ago
You should have informed HMRC in 2019 if you were then resident in the UK.
Member Since March 2016 - Comments: 163 - Articles: 1
1:09 PM, 27th April 2021, About 5 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?