This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

UK resident liable for CGT in both Germany and UK?

Olivercrumb
Posts:2
Joined:Wed Jul 12, 2017 11:45 pm
UK resident liable for CGT in both Germany and UK?

Postby Olivercrumb » Thu Jul 13, 2017 12:04 am

I am a UK resident in the process of selling an apartment I own in Germany. For the purposes of this post let's assume I have owned it for less than 10 years and therefore I accept there will be a liability under German law to pay some CGT. But can anyone advise me whether I will also have to pay CGT in the UK?

GlobalTaxAdviser
Posts:633
Joined:Fri Dec 05, 2014 1:18 am

Re: UK resident liable for CGT in both Germany and UK?

Postby GlobalTaxAdviser » Thu Jul 13, 2017 11:18 am

Hi

Yes since you are tax resident in UK CGT will be liable both in Germany and UK with a tax credit given for the Germany Tax paid.

The CGT calculation may differ in Germany and UK.

Kind Regards

GTA

ajoverthere
Posts:1
Joined:Tue Apr 04, 2017 10:25 pm

Re: UK resident liable for CGT in both Germany and UK?

Postby ajoverthere » Thu Jul 13, 2017 11:22 am

Hi GTA

I am in a similar situation. I am UK resident and wish to sell a property I have owned in Germany for more than 10 years, so there should be no German taxation on the sale.

However, would you be able to advise if there are any mechanisms to reduce the UK CGT?

Many thanks, regards

Andrew

Olivercrumb
Posts:2
Joined:Wed Jul 12, 2017 11:45 pm

Re: UK resident liable for CGT in both Germany and UK?

Postby Olivercrumb » Fri Jul 14, 2017 4:10 am

Pretty helpful.
Many thanks for that, GTA


Return to “Capital Gains Tax, CGT”