UK property disposal form

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Phone

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1. Your Basic Details

Your Name*

First Last

Email Address*

Full address of the property*

Street Address Address Line 2 City State / Province / Region ZIP / Postal Code Country

Is it an actual sale, or an anticipated sale?*

Actual Sale

Anticipated Sale

2. Disposal of Freehold or Leasehold interest

Please confirm whether you are disposing of the freehold or leasehold interest.*

Read: Freehold vs leasehold?

I will dispose of the freehold

I will dispose of the leasehold interest

The remaining length of the lease at the date of sale*

The remaining length of the lease at the date of acquisition*

3. Disposal of Freehold or Leasehold interest

Please confirm whether you are disposing of the freehold or leasehold interest.*

Read: Freehold vs Leasehold

I will dispose of the freehold

I will dispose of the leasehold interest

Anticipated length of lease remaining at date of sale*

Length of lease remaining at acquisition*

4. Property Ownership Percentage

Who are the owners of the property, and what is the percentage of their ownership?*

(i.e. 50% Person A and 50% Person B 50%)

Name

Ownership Percentage

5. Property Sale Date

What will be your anticipated sale date and sale price?

What was your sale date & price?

Read: Sale dates

Date of exchange*

Completion Date*

Sale Price*

6. Associated costs of sale

Please enter the anticipated costs below to the best of your ability.

Solicitor’s fees*

Estate agent fees*

Other costs (e.g. searches)*

7. UK Mortgage Details (for Australian foreign exchange gain/loss purposes)

Please confirm the mortgage redemption amount at the date of sale, or confirmation that no mortgage exists

Please confirm the Date you most recently refinanced the mortgage (dd/mm/yyyy)

Note: The relevant date will be the date you took-out the most recent fixed-rate offer. This is on the basis the variable rate follows a lapse of the fixed-rate period, if not it will be the date you took out the variable rate mortgage. (this is relevant for the AUS computation for foreign exchange gains and losses).
i.e.,
1. on 1/1/2010 you took-out a 5 year fixed mortgage. The fixed rate period lapses and you move onto a variable rate. The relevant date is 1/1/2010.
2. on 1/1/2010 you took-out a 5 year fixed mortgage. Before the fixed rate period lapses, you obtain a variable rate mortgage to commence on 1/1/2015. The relevant date is 1/1/2015

8. Acquisition Details

Date of acquisition*

Purchase price (acquisition cost).*

9. Associated costs of acquisition

Solicitor’s fees*

Stamp Duty Land Tax (SDLT) if any*

Other costs (e.g. searches)*

10. Market value of the property at 5 April 2015

Market value of the property at 5 April 2015*

HMRC advise that you can obtain a valuation via a RICS surveyor or estate agent.

They also suggest that a reasonable estimate is sufficient. For example, you could arrive at a value by looking at what similar properties in the area sold for at the time and taking an average. This can be readily accessed from websites such as Rightmove. Alternatively, we can estimate the value by looking at the UK House Price Index from acquisition to sale, please let us know if you would like for us to do this.

11. Periods during which the property was occupied by you as your main residence (home)

Date that you physically occupied the property as your main residence (home)

Please use date format: dd/mm/yyyy

Move-in date

Move-out date

12. Other properties owned during the same period

Property Details

Country where property purchased	Date of purchase	Actions

There are no Properties.

13. Enhancement expenditure: UK computation

Please provide details of the any enhancement expenditure incurred on the property (the cost, year the expenditure was incurred and a brief description)

Please note that you cannot claim relief for any expenditure that was incurred on the property and has been claimed on a UK tax return (i.e. you replaced the boiler and included the expenditure as a deduction against your rental profits – in this instance, the expenditure is not included on the CGT computation).

Expenditure incurred on decorating (i.e., painting), replacement carpets, cookers, fridges, freezers are not capital in nature and may instead be a deduction against rental profit. Moreover, if you replaced laminate flooring with flooring of a similar standard (albeit a newer version) this is also not capital in nature and will not be included as a deduction on your CGT comps.

Please note that for UK tax purposes, only expenditure which has resulted in an improvement to the property which is reflected in the value of the property at the date of disposal is allowed as a deduction on the UK CGT computation.

Description of expenditure incurred

Amount incurred (GBP)

Date incurred (dd/mm/yyyy)

Confirmation that the expenditure incurred was reflected in the final sales value of the property

14. UK capital losses

Brought forward and available as at 6 April 2024

Realised in the UK tax year ending 5 April 2025

15. Australian capital losses

Brought forward and available as at 1 July 2024

Realised in the Australian tax year ending 30 June 2025

16. More Information

Please confirm the date you arrived in Australia and commenced Australian tax residency*

17. Tax recognition date under Australian CGT rules

Please answer the following questions so that we can determine your tax recognition date under Australian CGT rules.

Did you arrive in Australia as a permanent resident or citizen of Australia?

Yes

This is the date you will be deemed to have acquired the property for Australian tax purposes – the tax recognition date.

If you arrived in Australia on a temporary resident visa then the tax recognition date will be the earlier of:

i. The date you were granted permanent residence status, or
ii. The date you entered into a de facto relationship with an Australian citizen or permanent resident. If you arrived in Australia in a de facto relationship or married to an Australian citizen or permanent resident, then this will be the tax recognition date.

Please provide me with the market value of the property on the tax recognition date as explained above.*

Ordinarily, the ATO require a professional valuation. You can request this from the estate agent who assisted with the property sale provided that they are qualified in the UK to provide valuations.

19. Depreciation claimed on Australian tax return

Please confirm the total amount of capital works deductions claimed on your respective Australian tax returns relating to the property*

Read: What are capital works deductions?

Please confirm the tax written down value (TWDV) at the date of sale on non-pooled assets used within the property claimed on your respective Australian tax returns

Read: What are non-pooled assets?

Please confirm your estimated taxable income for the current Australian tax year ending 30 June 2025*

See the ATO website here for further information.

20. Costs of Ownership

It may be possible to claim relief for certain costs incurred during the period of your ownership of the property when it was not let to tenants. If the property has always been let to tenants then this is not relevant to you.

To this end:

Please provide the totals of the following costs incurred during the period of your ownership when the property was not let to tenants. If helpful, you may provide a summary of these costs in an Excel spreadsheet, itemising:

A description of the cost (e.g., mortgage interest),
The date of payment,
The amount, and
The currency of the payment.

While this level of detail is not required as part of this exercise, please note that the ATO may request substantiation for any costs included in the Australian tax return if they review the relevant sale.

Please provide totals of the following costs incurred the during period of your ownership of the property when it was not let to tenants.

Mortgage interest

Buildings insurance (excluding contents)

Council tax

Strata levies

Repairs and maintenance