Capital gains tax
 

Question......will I have to pay capital gains tax if I sell my house in Canada and return to. UK,,..........HELP

Re: Capital gains tax
 

As per your previous thread (https://britishexpats.com/forum/movi.../) more info is needed - when will you be selling?

Re: Capital gains tax
 

House going on market March 2022 hoping to leave Canada in June 2022

Re: Capital gains tax
 

Will you leave Canada if your house has not sold?

Re: Capital gains tax
 

We are retired so can wait till house does sell we can take our time get best dollar value and then move

Re: Capital gains tax
 

If you complete the sale before moving then no capital gains taxes to worry about from a UK perspective.

Re: Capital gains tax
 

Durham lad - surely if the home you’re selling is your main home then it’s UK CGT exempt?

Re: Capital gains tax
 

You are almost certainly correct but I don’t know for certain, but since OP has the option of completing the sale before returning he will be sure there are no tax or reporting requirements for selling a foreign property while being resident in the UK.

https://www.gov.uk/tax-sell-property/selling-overseas-property

Re: Capital gains tax
 

I found this useful.


https://www.aesinternational.com/blo...-tax-in-the-uk

Under UK law, if you meet the conditions for private residence relief (PRR), you don’t have to pay capital gains tax as long as it’s your main home you’re selling.

Both non-residents selling UK residential property and UK residents selling residential property abroad may still be able to get this relief as a non-UK resident if they meet new qualifying conditions.

For example, you can apply PRR to a property you’re selling as long as you’ve lived in it for 90 days or more over the UK tax year in question.

For those who own more than one property in a country, the 90 days can be split between properties.

If you’re a UK resident you can apply the relief to any property you own overseas as long as you spend 90 days in it.

For expats, if you live outside the UK but spend 90+ days in your UK property, you can nominate this to be your principal residence and get PRR.