stephend-

Just double checking this scenario....

I live the US and have done since 2009 (GC holder now), and in May 2020 I sold my flat in the UK.
I paid my UK CGT bill within the 30 days required by non-doms based on the increase in value since 05-Apr-2015.
I Paid my US CGT when I did my 2020 US return back in 2021 (claiming relief for the US$ equivalent of the amount I paid to HMRC)

I am now filling in my 2020-2021 UK Self Assessment Tax Return - and am filling in the bit about any capital gains I made in tax year 2020-2021 and there is a bit where I can tick the YES box if "you wish to claim tax relief for any foreign tax already paid on capital gains".

I CANNOT tick yes to that box, can I? I am assuming as I already claimed relief in the US for the GPB I sent to HMRC, I cannot then go on and claim relief in the UK for the USD I sent to the IRS - that would be double-dipping, right?

MikeNT

Correct - the UK has the primary taxing rights on your UK capital gain under the US/UK DTA.

A foreign tax credit is allowed on your US tax return for the UK capital gains tax (which you have done).

You cannot claim any US capital gains tax against your UK capital gain.

stephend-

Thank you, Mike! That was my hunch but you put it to actual words!

MikeNT

No worries Stephen! Thanks Mike

stephend-

I see it is now 60 days you get to file your CGT forms, rather than 30 days. A bit better I suppose...
https://www.gov.uk/guidance/capital-...ntial-property