We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Capital Gains taxed on a non primary residence?
IJTIan
Posts: 2 Newbie
Like many Brits my wife is applying for French residency and as such our house is not classed as her primary residence. We are looking to move house in the UK but need to know how long we have before my wife is subject to capital gains tax on her half of the profit we have in our current house. I have heard we have 9 months from the time she left the UK but would like that confirmed please. Also does the sale and purchase have to be completed in that time frame or just sale and purchase agreed within the time frame? If anyone can advise I would be most grateful. Thank you.
0
Comments
-
For UK rules the 9months isnt a cliff edge. After that it starts getting pro rated so if you've lived there 10 years, and sell after say 10 months, thats 120 months of occupancy, 1 month not, so CGT payable on 1/120th the gain which is half the total gain so 1/240th. Not going to break the bank i suggest.As for French rules and dual taxation and wealth tax, no idea, it might be simpler to sell before she becomes a french citizen and subject to that. Could she transfer her half of the house to you?1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards