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Where Taxpayers and Advisers Meet

taxes when moving abroad

marinero
Posts:7
Joined:Mon Feb 01, 2021 1:42 pm
taxes when moving abroad

Postby marinero » Sun May 09, 2021 5:27 pm

Hi,

Here's my situation:

A. EU citizen and UK tax resident
B. moving to Hong Kong at the end of September this year (ie just under six months into the tax year)

Questions:
1. Am I considered UK tax resident when it comes to capital gains given I'm leaving before completing 183 days in the UK?
2. What happens to rent income I receive from my EU home country? Do I pay tax on those for the months I have been in the UK? (ie split-year treatment)

Anything else to consider?

Thank you in advance to this wonderful community for being so helpful.

Ted

AGoodman
Posts:1223
Joined:Fri May 16, 2014 3:47 pm

Re: taxes when moving abroad

Postby AGoodman » Thu May 13, 2021 11:51 am

1. Probably (the 183 days test is only one of many) - but you could well qualify for split year treatment so that you become non-resident for CGT from the day of departure.

Look at RDR3 - https://www.gov.uk/government/publications/rdr3-statutory-residence-test-srt/guidance-note-for-statutory-residence-test-srt-rdr3

2. Yes, if split year treatment applies, it could apply here, but you will also want to consider the double tax treaty between the UK and home country.


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