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Where Taxpayers and Advisers Meet

Non resident landlord

Posts: 36
Joined: Tue Dec 16, 2014 8:20 am

Non resident landlord

Postby kanrent » Fri Sep 14, 2018 5:48 pm

I bought my house in 1983 lived in it until 2002
Then let it out and went to live abroad as a non-resident . I now need to return to the UK to live .
Should I sell the property before I return and become a UK resident again
If I return and live in the property again before I sell will I still be exempt from CGT from 2002 to 2015

Posts: 730
Joined: Fri May 16, 2014 3:47 pm

Re: Non resident landlord

Postby AGoodman » Fri Sep 14, 2018 7:25 pm

It is probably best to sell before you return - ideally a prior tax year otherwise make sure you qualify for split year treatment, which is not a given. The final answer may depend on values.

If you sell while non-resident, you will measure the gain against the market value in April 2015 and the last 18 months of your ownership will qualify for PPR.

If you sell once back, you will get normal PPR for the time you were in occupation but only up to £40,000 of relief for the time it was let (plus the last 18 months). Depending on values, this may well be worse.

Posts: 22
Joined: Tue May 30, 2017 1:27 am

Re: Non resident landlord

Postby rbk123 » Sun Oct 14, 2018 9:22 pm

If you sell before your return, be sure to fill in the non sensible NRCGT return which must be filled in within 30 days of sale.

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