Capital gains tax in UK and Aus
 

If you sell a property in the UK, do you have to pay CGT both in Aus and the UK?

Re: Capital gains tax in UK and Aus
 

There is a tax agreement so any tax you pay to HMRC will be offset against any tax due in Australia, so although you will be assessed by each tax authority you won’t pay twice.

Re: Capital gains tax in UK and Aus
 

Thanks

Re: Capital gains tax in UK and Aus
 

What type of Australian visa do you have, and where are you living presently?

Best regards.

Re: Capital gains tax in UK and Aus
 

Hi Alan, I have both UK and Aus citizenship but I have lived in Aus for the past 10 years

Re: Capital gains tax in UK and Aus
 

Noted - thanks.

This means you will need to prepare a Non Resident CGT return for submission to HM Revenue within 30 days of the sale of a UK residential property completing.

There is also a CGT position in Australia to consider.

Feel able to telephone me to discuss - 03 9935 2929. I'll be around over the Xmas and NY period if needs be.

Best regards.

Re: Capital gains tax in UK and Aus
 

Thanks Alan, I will give you a ring next week. Shandy