I've searched extensively through various avenues for information regarding the treatment of Capital Gains on Assets for returning non-Residents and been unsuccessful finding any material that can answer my question. Assume my scenario is such that I have a portfolio of Shares and funds in a simple brokerage account that have been accumulated while I have been Non resident (UK-Domiciled) for a consecutive period of 9 full tax years in a tax regime that has a 0% Capital Gains tax rate. Assume in this current tax year I will qualify for Split year treatment.
Is the rule as simple as:
Any sales (for gains or losses) are recognised fully under UK CGT for tax assessment purposes from the day I become resident and ordinarily resident again, and any Sales I make before the day I become resident again are irrelevant for any calculations as far as UK HMRC are concerned, as they occurred while I was still Non resident.
If that is correct, logic would follow that I should sell anything showing a gain prior to my return and sell anything showing a loss post my return, buying back the shares/funds I wish to own a few days after I return, in doing so keeping my portfolio in tact (with only a few days break) while avoiding any Capital Gains on long term holdings, and crystallising losses, which can be used in the UK against any future gains subject to the rules etc.
Thanks
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