Red Eric

Then she doesn't need settled status.

Although if she were to apply for it, it would give her more rights than ILR :
Apply to the EU Settlement Scheme

And I don't see how you're losing out - you seem to me to have a multitude of rights and options.

sportpix

Just curious, and before I book a plane ticket now that the UK government has eased quarantine restrictions for HK residents, does CGT apply to EVERYONE who becomes resident in Portugal should they sell a property? I've just been reading posts on similar subjects on this forum, and several people have asked about selling UK property with the hope of escaping CGT in Portugal. If this is a worldwide tax then obviously I need to sell my HK property before taking that plane ride, and given all of the crazy stuff going on here at the moment the property market is not exactly roaring. Would the same thing apply for the golden visa programme? Would be still get clobbered for CGT if we decide to take that route (before selling up here) instead of me travelling there before the end of the year and renting somewhere to then be able to apply for residency? Clearly I need to have my financial ducks lined up here before rushing into something that might work out very expensive...

bons

My husband has his name on our deeds alone, my name is not on them. I wonder if I took out a lease on a property in Portugal in my name only, then my primary residence would be Portugal and his the UK. This is if we don't sell our property before we come. I wonder if he wouldn't be stung for CGT as he has sold his primary residence in the UK. That would only work if I get residency before December 31st, but could add his name as resident next year. This is terrible, we lived in Spain for two years and didn't like it, we came back 7 years ago with a view to not staing in the UK very long, unfortunately, it didn't work out due to work committments and here we are on a tightrope, with my husband committed here until the end of October.

Andyj100

CGT was applied to non-residents for property sales in 2015. IF you are a "qualifying" non-resident you only pay the gain from 2015 to the date of sale. "Qualifying" is more or less 5 years, so if you leave the UK today, become non-UK resident sell a property, you declare the post 2015 gain, deduct the allowance and just make sure you don't do anything in the UK that could jeopardise your non-resident status for 5 years or so. HK property would be subject the HK rules. If you are not a UK resident it's nothing to do with HMRC. I would imagine if you turn up in Portugal with a declared assets, you pay Portuguese CGT on any gains after becoming resident.

I sold a UK property last year and paid less that GBP1000 for professional advice to go through a process that ensured I legally did not have to pay 30k or so in CGT. There are good advisors that have a lot of knowledge and I'm glad I paid for advice (I'll not post the name of the advisor here, but I would be happy to share).

sportpix

HK property would be subject the HK rules. If you are not a UK resident it's nothing to do with HMRC. I would imagine if you turn up in Portugal with a declared assets, you pay Portuguese CGT on any gains after becoming resident.

And that's the bit that concerns me. We do not have CGT in HK - in fact we have very few taxes at all. The rate for earned income is a flat 16%, and about 50 percent of the working population don't earn enough to pay any income tax at all. Everyone else pays the same rate never mind whether they get paid thousands or millions of HK dollars a month. Given that HK property prices are the highest in the world I need to make sure that I don't leave myself open to paying a tax that I could avoid by selling up before leave for good.

TonyJ1

Why complicate matters - if you register under the non habitual residency scheme, foreign capital gains on fixed property will be tax free in Portugal (exception of property in the Portuguese black list, and also in my opinion, though there are some contradictory opinions, there is also no double tax treaty) if the property abroad is sold whilst in the nhr. Then you can sell your UK, before, during or after you become resident without stress - only need to make sure that you don't have income subject to PT taxation, as the CG will be included to determine the tax rate on the non exempt income.