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[UK tax]: Get expatted => home liable to CGT

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Primrose Hill
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Re: [UK tax]: Get expatted => home liable to CGT

Postby Primrose Hill » Mon, 18 May 2015 11:34 am

JR8 wrote:It is something Brit-expats might like to consider; whether to get professional home valuations at their time of departure. And the consequences of what happens to their homes value while they are away.

When we're done 'on the road' I expect to return to that home for a while, get our freight in, mentally regroup, and then prepare and decide on somewhere 'less buzzing man' for us to move to.

If that's case, if I am in your position, I would re-open the house, live there, register with the council, pay council tax and inform HMRC that you are back in the country and once the 90days have expired you can sell without incurring CGT.

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Re: [UK tax]: Get expatted => home liable to CGT

Postby JR8 » Mon, 18 May 2015 12:05 pm

That's along the lines of how it used to work.

Either way the idea of buying the next place from out here is a non-starter. 'Don't fight your battles from afar' etc.
'Do it or do not do it: You will regret both' - Kierkegaard

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Re: [UK tax]: Get expatted => home liable to CGT

Postby JR8 » Tue, 19 May 2015 4:40 pm

http://www.gt-ci.com/uploads/files/1546 ... nseyv2.pdf
'A Guide to the New Non-resident Capital Gains Tax Rules
The new non-resident capital gains tax (NRCGT) has been implemented from 6 April 2015. The rules intend to capture disposals of UK residential property by all non-residents.'



--- I wonder how this might impact the SGn 'hobby' of buying off-plan UK property. A 40% marginal tax-rate might come as something of a surprise...
'Do it or do not do it: You will regret both' - Kierkegaard

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Re: [UK tax]: Get expatted => home liable to CGT

Postby Primrose Hill » Wed, 20 May 2015 8:02 am

JR8 wrote:http://www.gt-ci.com/uploads/files/1546GT_Fact_Sheet_-_NRT_Rules_Guernseyv2.pdf
'A Guide to the New Non-resident Capital Gains Tax Rules
The new non-resident capital gains tax (NRCGT) has been implemented from 6 April 2015. The rules intend to capture disposals of UK residential property by all non-residents.'



--- I wonder how this might impact the SGn 'hobby' of buying off-plan UK property. A 40% marginal tax-rate might come as something of a surprise...

Yup. I wonder if Savills/Knight Frank or one of those estate agents provide the buyers with tax advise as well. Somehow, I doubt it


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