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Where Taxpayers and Advisers Meet

Moving to UK from NZ - CGT on sale of NZ home

Nickdugg
Posts: 2
Joined: Fri Feb 21, 2020 2:48 pm

Moving to UK from NZ - CGT on sale of NZ home

Postby Nickdugg » Fri Feb 21, 2020 2:54 pm

Hello,

I moved to NZ in 2012, and am considering moving back to the UK.

There is no capital gains tax in NZ.

If I sell my NZ home, will I have to pay any tax in the UK, CGT or otherwise if I transfer the monies to the UK to buy my principle/main home there?

maths
Posts: 7893
Joined: Wed Aug 06, 2008 3:25 pm

Re: Moving to UK from NZ - CGT on sale of NZ home

Postby maths » Sat Feb 22, 2020 9:16 pm

If you are UK domiciled (ie basically British and have lived in the UK most of your life) then movement of monies is irrelevant to any UK CGT charge.

UK CGT will only be in point if you sell whilst UK resident although if your NZ property was your only home then no CGT charge would actually arise as it would be exempt.

I would be inclined to sell before you re-acquire UK residence then no UK problems.

Nickdugg
Posts: 2
Joined: Fri Feb 21, 2020 2:48 pm

Re: Moving to UK from NZ - CGT on sale of NZ home

Postby Nickdugg » Tue Feb 25, 2020 3:10 pm

Thanks very much for your reply, having read a few other sites and looked up UK Govt / HMRC guidance your reply confirms what I think is correct :D


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