Capital gains tax
#2
Re: Capital gains tax
#6
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Joined: Aug 2013
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Posts: 4,098
#8
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,098
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
Selling overseas property
You pay Capital Gains Tax when you ‘dispose of’ overseas property if you’re resident in the UK.Last edited by durham_lad; Apr 27th 2022 at 2:14 pm.
#9
Just Joined
Joined: Nov 2017
Posts: 16
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.
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.