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Where Taxpayers and Advisers Meet

Non resident CGT

Posts: 68
Joined: Tue Dec 16, 2014 8:20 am

Non resident CGT

Postby kanrent » Sun Sep 22, 2019 5:44 am

I bought my house in 1985 lived in the house until year 2000 moved out and let the property, also became became non resident in 2000.
Will I still be exempt from CGT up until 2015
After New rules are introduced in 2020

Posts: 1072
Joined: Fri May 16, 2014 3:47 pm

Re: Non resident CGT

Postby AGoodman » Mon Sep 23, 2019 10:17 am

(but the rules on this point won't change in 2020. They are already in place)

Posts: 237
Joined: Mon Aug 12, 2019 8:41 am
Location: Sandhurst, Berkshire

Re: Non resident CGT

Postby jerome.lane » Tue Sep 24, 2019 10:20 am

Depending on the numbers involved, the changes to letting relief and the final period exemption could affect the CGT you may have to pay. If you intend keeping the property, there may be planning opportunities to realise a gain before April 2020 and effectively rebase the purchase price.
Jerome Lane
Tax Adviser
Telephone: 07943 005902

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