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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15308
Experience:  International tax
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Sorry to come back, Robin but I have just noticed something

Customer Question

Sorry to come back, Robin but I have just noticed something in your advice that I do not understand.

I notice your advice that my son would not be liable for tax on a disposal in a tax year when he is not resident and not ordinarily resident in the UK providing the asset disposed of was not held for the purpose of a trade profession or vocation through a branch or agency in the UK.

However in your last sentence you say that he will not be liable for tax in the UK or Scotland unless he used the property for business or rental. As I mentioned, he has been letting the property. Does this mean that he is liable for tax in the UK or Scotland? I would be grateful if you will clarify this.
Submitted: 3 years ago.
Category: Tax
Expert:  TaxRobin replied 3 years ago.
Yes, because this was not his main home and he is not resident in UK he will need to work out the gain and pay Capital Gains Tax in the UK.
Of course by treaty with the US he will be allowed to use the US credit for the tax paid to the UK when he files his US return.
Customer: replied 3 years ago.

Thank you; as this was just clarification of your answer to my question, not an additional question, I do not think it fair to expect me to pay an extra £33.

Expert:  TaxRobin replied 3 years ago.
No, do not rate again. This was just a followup.
Customer: replied 3 years ago.

Many thanks Robin


 


Leslie

Expert:  TaxRobin replied 3 years ago.
You are welcome.

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