Sale of rented property in UK whilst resident in Spain

[smithches12]

Main residence in UK was purchased in 1986,lived in til 2013 then rented since then whilst we moved to reside in Spain in former holiday flat.UK property not declared to Spanish tax office under form 720 as acquisition value at purchase was less than 50,000 euros(£40,000)in 1986.Rental from uk property declared to Spanish tax authorities as well as uk pensions.
Now wish to sell UK property which has value of £250,000.Gain would be approx £210,000 over 33 years,7 years of which was rented.Property in uk jointly owned.
1.In view of the loss of reliefs in April 2020 what CGT would We need to pay to UK tax and or Spanish Tax authorities?
2.If Tax needs to be paid to Spanish tax office can we avoid this by returning to UK,taking up UK fiscal residency again.If so how long do we have to establish fiscal residency in UK at our main residency again before we can sell the UK property avoiding having to pay Spanish tax office any CGT?
3.Dilemma for us is Brexit and loss of our Spanish residency in order to avoid large CGT to Spanish tax office.We would then have to return to Spain after sale of UK property and reapply for residency although I understand that we may be allowed to retain our residency in Spain after Brexit for up to 3 years out of Spain however not sure how this applies to fiscal residency.Any advice or suggestions would be appreciated.

[darthblingbling]

If you sell while a non resident of the UK, you'll be liable to NRCGT not CGT. Effectively, unless you elect otherwise, you'll be taxed on the gain that has arisen from April 2015 (you would need to determine the market value of the property in April 2015 to uplift the cost basis). So your UK liability may be smaller than expected.

Sounds good, but doesn't help with any Spanish liability which I and many others here will struggle to comment on as it's a UK forum.

Recommend you get specialist advice from both sides of the pond ASAP as big changes planned post April 2020 with regards to deemed occupancy and lettings relief. Work out the tax for each scenario.

Spain may also have anti avoidance rules much like the UK that will tax the gain if you later return to Spain after a short absence.

[smithches12]

Thanks for the reply.As you state better to get specialist advice about our situation owing to differences between Spanish and UK tax laws.Thanks again.Much appreciated.