Capital Gains Tax returning home
#1
Just Joined
Thread Starter
Joined: Nov 2017
Posts: 2
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.
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.
#2
BE Enthusiast
Joined: Oct 2013
Posts: 526
Re: 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.
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.
https://www.taxation.co.uk/Articles/...tting-headache
https://www.litrg.org.uk/tax-guides/...year-treatment
#3
Just Joined
Thread Starter
Joined: Nov 2017
Posts: 2
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!
Your second article says rather ominously, 'The rules on split year and capital gains are very complex'. Not very helpful!