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Where Taxpayers and Advisers Meet

Capital Gain arising while non-resident

Naz
Posts:7
Joined:Sat Sep 23, 2017 12:12 pm
Capital Gain arising while non-resident

Postby Naz » Thu Oct 05, 2017 12:32 pm

I have been non-resident for many years and in this period acquired couple of BTL properties. If these are sold after becoming tax resident, would the gain accrued during the period of non-residency be exempted from CGT (except since April 2015) or all the gain be taxed without regard to the period of non-residency?
Appreciate your response.

simpsonite
Posts:109
Joined:Wed Jun 24, 2009 11:58 am

Re: Capital Gain arising while non-resident

Postby simpsonite » Thu Oct 05, 2017 12:54 pm

All of the gain is taxable when you become UK resident for tax purposes.
So in the tax year that you return - ensure the properties are sold before you become UK resident.

SteLacca
Posts:448
Joined:Fri Aug 07, 2015 2:17 pm

Re: Capital Gain arising while non-resident

Postby SteLacca » Thu Oct 05, 2017 3:23 pm

And if you haven't, familiarise yourself with the new(ish) non-resident capital gains requirements, in case you sell any of them whilst non-resident.

Naz
Posts:7
Joined:Sat Sep 23, 2017 12:12 pm

Re: Capital Gain arising while non-resident

Postby Naz » Thu Oct 05, 2017 3:59 pm

Thank you for the above responses. Could a tax vehicle such as a trust or limited company help in my situation to crystallize gain before my return?


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