Hi,
My primary residence is currently in the UK but I have just bought a house in France. I will be moving to France full time (although not sure if this will be a permanent thing) but would like to keep my UK residence for a couple of years as a fall back. What is my position with regards CGT on the UK property i.e. what would be the best course of action to minimise CGT impact, in terms of time to sell etc?
Thank you
CGT on UK residence if moving to France
2 posts • Page 1 of 1
by Ian McTernan CTA on Sat Apr 03, 2004 12:13 pm
Usual last 36 months deemed to be PPR, not liable to CGT if sold in a year when you are non-resident in UK as long as you don't return to the UK within five years, you will be liable to CGT in France if you sell whilst resident there.
Income is taxable in the UK and reportable in France.
Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
Income is taxable in the UK and reportable in France.
Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
- Ian McTernan CTA
- Posts: 1131
- Joined: Wed Aug 06, 2008 3:02 pm
2 posts • Page 1 of 1
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