Go Back  British Expats > Living & Moving Abroad > Moving back or to the UK
Reload this Page >

Capital Gains Tax returning home

Capital Gains Tax returning home

Thread Tools
 
Old Nov 6th 2017, 4:49 pm
  #1  
Just Joined
Thread Starter
 
Joined: Nov 2017
Posts: 2
LondonColin is an unknown quantity at this point
Default Capital Gains Tax returning home

I am returning to the UK having been abroad and non-resident for six years.
Do I get the full capital gains allowance for the tax year I return, or if I return say half way the year through do I only get half?
I am only concerned about gains on financial investments, not property.

Thanks.
LondonColin is offline  
Old Nov 13th 2017, 7:03 am
  #2  
BE Enthusiast
 
Joined: Oct 2013
Posts: 526
angie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond reputeangie_329 has a reputation beyond repute
Default Re: Capital Gains Tax returning home

Originally Posted by LondonColin
I am returning to the UK having been abroad and non-resident for six years.
Do I get the full capital gains allowance for the tax year I return, or if I return say half way the year through do I only get half?
I am only concerned about gains on financial investments, not property.

Thanks.
you probably need expert advice on your particular situation, but I found these two articles which indicate that capital gains can be treated as a split year.

https://www.taxation.co.uk/Articles/...tting-headache

https://www.litrg.org.uk/tax-guides/...year-treatment
angie_329 is offline  
Old Nov 13th 2017, 3:38 pm
  #3  
Just Joined
Thread Starter
 
Joined: Nov 2017
Posts: 2
LondonColin is an unknown quantity at this point
Default Re: Capital Gains Tax returning home

Thanks, Angie. There seem to be plenty of articles explaining that the year of return can be split into resident and non-resident parts, but none of them that I have found say whether the full CGT allowance is available for the part year.
Your second article says rather ominously, 'The rules on split year and capital gains are very complex'. Not very helpful!
LondonColin is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.