CGT tax on UK property for non UK residents

skillboy

Hi All

I an a British national that lives overseas and am classed as a non UK resident.

I have a house in the UK that I bought in 2001.

I recently read that from April 2015 non UK residents will have to pay CGT on property that is sold in the UK.

I have no problem with that.

My question is, will the CGT be calculated from when I first bought the property in 2001, or will the CGT be calculated from any increase in value using the market value of the property in April 2015 as the "base price"?

Any help greatly appreciated. Thanks.

RetiredInThailand

skillboy wrote: »

....will the CGT be calculated from any increase in value using the market value of the property in April 2015 as the "base price"?

Yes, as far as I understand it. I have no idea how they are going to calculate those values though, and I suspect that they dont either. It may end up only applying to properties that are both bought and sold after the new rule is in place.