Tax on returned assets?
Oct 11th 2009 | 12:28 pm
#1
Thread Starter
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,400
Tax on returned assets?
I have searched but can't find an appropriate thread.
Is it true that, if you return from Australia to the UK after seven years there is no tax liability on any increase in asset value over that when you left the UK?
Is it true that, if you return from Australia to the UK after seven years there is no tax liability on any increase in asset value over that when you left the UK?
Oct 12th 2009 | 4:00 am
#2
Confirmed grumpy old man
Joined: May 2005
Posts: 1,298
From: Moved back to Riyadh KSA 2016
Re: Tax on returned assets?
.... and is it the same returning from overseas generally? I have worked 8+ years in middle east.
Will I be exempt from capital gains tax on my property if I sell it?
Will I be exempt from capital gains tax on my property if I sell it?
Oct 12th 2009 | 2:18 pm
#4
Confirmed grumpy old man
Joined: May 2005
Posts: 1,298
From: Moved back to Riyadh KSA 2016
Re: Tax on returned assets?
I am asking aboout returning to UK from Dubai.
Oct 12th 2009 | 2:58 pm
#5
Thread Starter
Lost in BE Cyberspace
Joined: Mar 2003
Posts: 9,400
Re: Tax on returned assets?
FROM Australia. TO the UK.
If you leave the UK for say a couple of years - tax-wise - then go back I understand that you could be liable for UK tax on any increase in your wealth in Sterling terms. There must be a limit to the time this applies, and I have heard seven years.
(I've been in Australia five years now.............)
If you leave the UK for say a couple of years - tax-wise - then go back I understand that you could be liable for UK tax on any increase in your wealth in Sterling terms. There must be a limit to the time this applies, and I have heard seven years.
(I've been in Australia five years now.............)
Last edited by Wol; Oct 12th 2009 at 3:07 pm.
