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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 11155
Experience:  30 years as a practising solicitor.
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We have lived in Australia past 8 years and have not

Resolved Question:

We have lived in Australia for the past 8 years and have not returned to the UK during that time. We would like to know if we will have to pay HMRC CGT on a property inherited in 1999 and which has been rented out since then but has now been sold. I will have to pay CGT to the Australian Tax Office. We are both retired and have not worked in Australia but we do have to complete an ATO tax return each year. The property referred to above has never been a place of residence for us. We have no intention of returning to the UK.
Submitted: 1 year ago.
Category: Law
Expert:  JGM replied 1 year ago.
Thank you for your question.
You will pay UK capital gains tax on the disposal. You should advise the Australian Tax Authorities as should be granted double taxation relief.
Here is a link that will help you. Happy to discuss further.
https://www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-property
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