Capital Gains Tax

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Old Jun 13th 2006, 5:36 pm
  #1  
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Question Capital Gains Tax

Can anyone tell me if you are liable to pay capital gains tax on the sale of your property in the UK when you move to NZ?
Have been looking on other forums where the question has been posed before but without actually getting an absolute answer.
Is there anyone out there who has moved to NZ and had to pay capital gains on the profit from the sale of their UK house???? If so, how much is it? It wasn't something that we had thought of until now.
Cheers,
Sharon
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Old Jun 13th 2006, 5:40 pm
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Default Re: Capital Gains Tax

Originally Posted by Tinmanmd
Can anyone tell me if you are liable to pay capital gains tax on the sale of your property in the UK when you move to NZ?
Have been looking on other forums where the question has been posed before but without actually getting an absolute answer.
Is there anyone out there who has moved to NZ and had to pay capital gains on the profit from the sale of their UK house???? If so, how much is it? It wasn't something that we had thought of until now.
Cheers,
Sharon
If its your main UK property that you live in then it is exempt from capital gains tax.
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Old Jun 14th 2006, 1:36 pm
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Default Re: Capital Gains Tax

Originally Posted by M..
If its your main UK property that you live in then it is exempt from capital gains tax.
There is a limit of 3 years in which you can sell the property and gain the CGT exemption. Not sure how this will be affected by being non resident -suppose it works more in your favour.
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