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Thank you for your question ...
You are right, you could ask for tax year 2012/13 to be treated as split year. More information on it is covered in Sec 2.4 on page 8 of HMRC6 here
Provided you sell your property before coming back to the UK, any capital gain made will not be chargeable to Capital Gains Tax here.
For confirmation of this please look at Q6 here
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I will exchange contracts on the 3 Feb. If there was a delay in completion until after 1 Mar would I then be liable for a capital gains tax - if there is gain to pay outside of all the various allowances.
Laurie, thank you for your reply.
If the completion is likely to be delayed by a few days, it may pay for you to delay coming back to the UK and thus avoid payment of CGT.
As it was not your home residence, net gain from sale would be chargeable to capital gains tax. You would get your capital gains allowance of £10,600 before any tax is calculated.
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