owning one home, renting abroad, then selling the home, CGT?

[billbunter]

I left the Uk for Germany in august 2000. I rented my home out through a property agency and am still doing so. I wish to sell the property in May of this year. The home was bought for 27 000 and is now worth 85 000.

How much CGT will I pay? Is there any way of minimising this?

[Ian McTernan CTA]

Provided you don' have any plans to return to the UK, then there is no UK CGT to pay. However, I would think the German authorities will want their slice of the cake- you need to check with a local tax adviser.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com

[billbunter]

Thanks. Are you saying that the sale of my house now (ie four years into non-residence) will not incur CGT in the uk. I stil have no intention of returning to the uk but my own reading suggests that 5 years non residence is required before no uk liabilty to cgt is incurred.