Cgt

SamwiseT

Hello,

I am in the fortunate to position to have come into an unexpected and considerable amount of money.

I sold an antique at auction in November last year and after commission was left with £500k. :j

Having originally been happy to pay the CGT on this sum I have now had the thought that I could work abroad for a charity for the next 5 years and avoid this tax.

Have I left this too late? Can anyone think of any other options?

cinderfella

You were resident in the tax year & the taxman will come knocking for his share.
A little tax planning goes a long way. If you had become resident in Cyprus for that tax year & spent the following 4 years as non resident as well before returning to the UK, there would have been no cgt to pay. Mind you you may have had to dispose of your UK links as well.
Its a big step changing countries, but it is worthwhile when done correctly and it can be fun.