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Non resident Capital Gains Tax
notaclue2018
Posts: 34 Forumite
in Cutting tax
Hi
I'm thinking of selling a flat in London in 2019. I will have been non resident for tax purposes for two years at that stage, but I bought the flat in 2008 at which point I was resident in the UK for tax purposes. I notice that CGT only seems to apply from 5 April 2015 onwards for non residents.... but what I cannot see is whether that is the case if you have only been non resident for some of the time you owned the property, or is that irrelevant and it's only your status at the time of sale that matters?
Any thoughts appreciated.
I'm thinking of selling a flat in London in 2019. I will have been non resident for tax purposes for two years at that stage, but I bought the flat in 2008 at which point I was resident in the UK for tax purposes. I notice that CGT only seems to apply from 5 April 2015 onwards for non residents.... but what I cannot see is whether that is the case if you have only been non resident for some of the time you owned the property, or is that irrelevant and it's only your status at the time of sale that matters?
Any thoughts appreciated.
0
Comments
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It’s your residency status at the point of exchange of contracts that matters.0
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