Moving from the UAE back to Blighty.

[gdm]

Hi all, I own our family home in Dubai, my wife and kids will be relocating back to the UK in the next few months, i will be following at the end of march. We have been here for 8 years. My questions pls are, if I sell my dubai home for a loss next year after I have already relocated to the UK can I bring these funds back to a UK bank without any scrutiny? If there is indeed a profit on the sale, is this taxable? and if yes, how is the tax calculated when there have been huge currency swings (gbp/usd) since I purchased the property?
Finally, my brother in law lives in the UAE also, how would it work if wanted to send some funds back to the UK on occasion? can he do this as "gift" payments?

Cheers.

G

[AmanSood]

If the Dubai property has been your main residence in which you and your family have been living since you purchased it then even if you make a profit on sale of the property there is likely to be no UK capital gains tax to pay. But main way to ensure this is to sell your property before you relocate to the UK. Also, assuming your brother in law is tax resident in the UAE and payments to you are not for UK services but genuine gifts then he's free to send you the money as he likes and there would be no UK tax implications.