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Property & capital gains
Selling a home, letting a flat or holding investments across borders — two gain calculations, two sets of reliefs, one currency problem.
Gains reported to two authorities on different rules.
Cross-border property means two computations with different reliefs and different dates, plus a currency conversion that can create a taxable profit neither system feels intuitive about.
The UK's 60-day reporting deadline catches people who are still thinking in US timelines.
What we do
01
Principal residence relief
How UK private residence relief interacts with the US home sale exclusion, which rarely align.
02
Rental income
Reported in both systems, with the deductions each allows and the depreciation the US requires.
03
60-day UK reporting
Disposal reporting to HMRC inside the deadline, separate from the annual return.
04
Currency gains
Mortgage and exchange movements that create US taxable gains without any economic profit.
Why us
The currency catches people
A mortgage repaid at a different exchange rate can produce a US gain even where you made nothing, and even where you lost money.
We flag those before the transaction, when there is still room to structure around them.
When it comes to questions that cross two tax systems, you need specialists who work in both every day. Meet the team that make it happen.
View our peopleFrequently asked
I sold my UK home. Do I owe US tax?
Possibly. The US exclusion is capped and works differently to UK private residence relief, so a sale that is UK tax-free can still be US taxable.
What is the 60-day rule?
UK residential property disposals generally have to be reported and the tax paid within 60 days of completion, separately from Self Assessment.
Do I pay tax in both countries on a sale?
Both may charge, with credit relief between them. Because the computations differ, the credit rarely eliminates the second charge entirely.
How does currency affect the gain?
The US computes in dollars, so exchange movement alone can produce a taxable gain — including on repaying a foreign mortgage, which catches people out.
Is my main residence exempt?
Under different rules in each country, with different limits and qualifying periods. A fully exempt UK sale can still be taxable in the US.
What is the UK 60-day rule?
Disposals of UK residential property by non-residents, and taxable disposals by residents, generally require a return and payment within 60 days of completion.
Selling a home, letting a flat or holding investments across borders — two gain calculations, two sets of reliefs, one currency problem.
Key contact
Tell us what you are trying to solve and we will put the right specialist on the call.
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US–UK tax team
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