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Where Taxpayers and Advisers Meet

Selling main residence

homer
Posts:1
Joined:Wed Aug 06, 2008 3:05 pm

Postby homer » Thu Aug 28, 2003 12:17 am

My wife and I have permanent residency in the UK where we have lived and worked for the last seven years. We are now leaving the UK and are selling our home which is our main and only place of residence in the UK. What are the tax implications on any profit we make on the sale?

Ian McTernan CTA
Posts:1232
Joined:Wed Aug 06, 2008 3:02 pm
Location:Bedford
Contact:

Postby Ian McTernan CTA » Thu Aug 28, 2003 2:31 am

Effectively none, as the gain on your property will be fully covered by the PPR exemption. You should check up with the country you are moving to to ensure that you are not caught for any tax there, dependent on when you sell the property.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
McTernan Associates Ltd
Chartered Tax Advisers
Bedford
Email through link on website:
http://www.imcternan.com


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