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Where Taxpayers and Advisers Meet

Selling property as a non-UK resident

Nezza37
Posts:1
Joined:Tue May 02, 2017 8:06 am
Selling property as a non-UK resident

Postby Nezza37 » Tue May 02, 2017 8:10 am

Hi there

I'm a UK citizen. Up until the 25th April 2017 I had been a UK taxpayer working with the same employer since September 2004. I am moving to the Republic of Ireland this Friday (5th May) to start a new job on 8th May.

I have a property to sell here in the UK. Will I be subject to Capital Gains Tax on the sale of that property? I've looked at the you.gov pages and it doesn't seem to cover my scenario.

Many thanks in advance

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Selling property as a non-UK resident

Postby AGoodman » Tue May 02, 2017 12:15 pm

Assuming you are non-resident when you sell (you will need to check the statutory non-residence rules), you will not be liable to CGT but may have to pay non-resident CGT and will definitely have to file a NRCGT return. You must do this within 30 days of completion - there is an online form and severe penalties for late filings.

NRCGT is based on any increase in value since 5 April 2015 so you may need a valuation. However, PPR can still apply so if it has been your home till now and you sell relatively quickly (within 18 months) there should not be any tax to pay.

If you return to the UK within less than 5 complete tax years then you will also be liable for CGT on the balance of the gain (is that accruing before 5/4/15) but this could also be covered by PPR. Bear in mind that you could be UK resident for the first month of this tax year - you will need to check the statutory rules.


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