Taxes Hong Kong to the UK
#1
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Taxes Hong Kong to the UK
If I take my pension from Hong Kong and sell my Hong Kong property, what taxes am i liable for on return to the UK for that as a lump sum? I already own one property in the UK which still has a mortgage.
#2
Re: Taxes Hong Kong to the UK
You won't be liable for UK taxes if you do it whilst in Hong Kong. Tax is liable on income, not savings.
#3
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Re: Taxes Hong Kong to the UK
Appreciate the reply. But does that include income if you sell properties outside of the UK obce you declare domicile inside the UK? Or should you place everything into cash before you decalre domicile.
#4
Re: Taxes Hong Kong to the UK
Domicile and residence are not the same thing but if you are resident for tax purposes in the UK then you are liable for tax on your worldwide income, including Capital Gains Tax on the sale of property. How long have you been outside the UK?
#5
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Re: Taxes Hong Kong to the UK
Appreciate the reply. 34 years. No payments to UK government in that time but did buy a property 4 years ago, still under mortgage - so no declared domicile.
#6
Re: Taxes Hong Kong to the UK
https://www.gov.uk/tax-return-uk
https://www.gov.uk/tax-sell-property...rseas-property