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Where Taxpayers and Advisers Meet

Capital Gain Tax for Non Residents

excess
Posts:5
Joined:Fri Apr 22, 2016 3:23 pm
Capital Gain Tax for Non Residents

Postby excess » Fri Apr 22, 2016 3:45 pm

I am a British National and have been working as an expatriate since 1989. Thus have been a non-resident for tax purpose since 1989. I have a few properties in UK in addition to my primary house. These properties were bought after 1994 and are let.
I understand that the rules on "capital gains tax" has changed for "non-residents". Earlier, the rule was that if you sell a property while being a "non resident", capital gains tax does not apply. Now this has changed and that it is applicable for "non-resident" too.

Based on this new rule, I understand that if I sell a property now (while I am a "non-resident") tax will apply on the capital gain from April 2015.

1. However if I become a resident in UK again and sell this property, will I have to pay tax on the complete gain?

2. If I become a resident again next year and then become an expat and become a non resident, and then sell a property will I be allowed to sell and pay tax only on the gain from April 2015?

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