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Capital gains on UK property whilst living abroad
Elkele
Posts: 1 Newbie
I am a UK citizen married to an Italian and currently live abroad. I bought my UK property in Feb 2012 and lived there until Oct 2013. It’s been rented out since then. We moved abroad in November 2017. We now want to sell the UK property and are trying to work out if we would have to pay Capital Gains Tax. We’ve tried going through the information on the HMRC website but find it difficult to find answers to our situation. I have been a non-resident since November 2017. Our understanding is that after 5 years of living abroad, I would not pay Capital Gains Tax after selling my property. Could anyone shed any light on our situation? If I need to pay Capital Gains Tax, what is the percentage? Many thanks in advance.
0
Comments
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From https://www.gov.uk/capital-gains-tax/what-you-pay-it-on
If you’re abroad
You have to pay tax on gains you make on residential property in the UK even if you’re non-resident for tax purposes.0 -
the rules changed in 2015, you are either liable for tax on the gain since then or on gain over 2 other periods - but given it ceased to be your home before then there is no advantage to using the other 2 methods
use the calculator
https://www.tax.service.gov.uk/calculate-your-capital-gains/non-resident/0
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