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Where Taxpayers and Advisers Meet

The 5 year rule - Living Overseas as UK Non Tax Resident

ProfRogers
Posts:1
Joined:Mon Sep 30, 2024 9:20 am
The 5 year rule - Living Overseas as UK Non Tax Resident

Postby ProfRogers » Mon Sep 30, 2024 9:21 am

Hi. Just so I understand the 5 year rule a little better for being a UK Non Tax Resident, I have created this simple example.
(We will presume in this example that I am correctly following the UK sensitive ties rules for spending the appropriate number of days in the UK.

So .... lets say I live 6 years overseas as a non UK tax resident, but I make a £1m Capital Gain EVERY ONE OF THOSE YEARS = £6m.
I then choose to RETURN to the UK on Year 7 as a tax paying resident. In theory would my CGT bill be £0?

wamstax
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Location:Operate Nationally but based in Aberdeen
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Re: The 5 year rule - Living Overseas as UK Non Tax Resident

Postby wamstax » Tue Oct 29, 2024 11:14 pm

Depends on the nature and situation of the assets purchased and disposed of.
regards and hope this helps
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