How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Sam Your Own Question

Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13777
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

want to sell my one bed garden flat in Edinburgh. It is rented

Resolved Question:

want to sell my one bed garden flat in Edinburgh. It is rented out at present. I have not lived in the UK since 2011 am I liable for CGT?
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi

Thanks for your question, I am Sam and I am one of the UK tax experts here on Just Answer.

There will be a capital gain consideration, but whether there are sufficient reliefs available depends on the circumstances leading up to and since your departure from the UK.

So could you advise
1) What month in 2011 you left the UK
2) Confirm that you have declared the rental income to HMRC
3) Advise what saw you leaving the UK
4) Whether each tax year has seen you with visits less than 90 days back to the UK, with no one visit exceeding 31 days
5) How long you plan to remain out of the UK (and remain not resident)


Thanks

Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13777
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
Sam and other Tax Specialists are ready to help you
Customer: replied 2 years ago.

I left UK on 11/10/2011 to live permanently in ROI. The rental income has been less than £4000 so i have not declared it.I go to the uk 2/3 times a year for about 5 days each time. I plan to remain out of the UK permanently as I have retired to Irish Republic.

Customer: replied 2 years ago.

waiting for answer


 

Expert:  Sam replied 2 years ago.
Hi


Thanks for your response

Regardless of the sixe of the income this should have been declared to HMRC - and furthermore if you have not had agreement from HMRC to receive these rents gross (without the deduction of income under the Non Resident landlord scheme) link here for this)
http://www.hmrc.gov.uk/international/nr-landlords.htm

If you have not registered for this (which is likely as you are not declaring the rental income to HMRC) then you should be asking your managing agent (or if there is not one, the tenants, to with hold 20% basic rate tax which should be paid over to HMRC)
So this does not rectifying.
Plus if you have any other UK income arising (such as pensions), it may be that you have excess income compared to any remaining entitlement to UK personal allowances.
But either way HMRC should be alerted to ALL income that continues to arise in the UK.

But with the position of capital gains, which your question asked - as you clearly will be not UK resident for at least a period of more than 5 years, during which time, this sale takes place, you will have NO UK capital gain due to the non residency.
But I do advise that you check your capital gain position with the Irish tax authorities.

Let me know if you require any further information

Thanks

Sam

What Customers are Saying:

 
 
 
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
< Previous | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • Sam

    Sam

    Accountant

    Satisfied Customers:

    7088
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
< Previous | Next >
  • http://ww2.justanswer.com/uploads/TA/Tax Expert/2013-8-21_231010_sam.64x64.jpg Sam's Avatar

    Sam

    Accountant

    Satisfied Customers:

    7088
    26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
  • http://ww2.justanswer.com/uploads/BI/bigduckontax/2013-8-12_222058_1.64x64.jpg bigduckontax's Avatar

    bigduckontax

    Accountant

    Satisfied Customers:

    2333
    FCCA FCMA CGMA ACIS
  • http://ww2.justanswer.com/uploads/TA/TaxRobin/2013-8-28_16186_femalebusinessprofessionalbinderhand11038485.64x64.jpg TaxRobin's Avatar

    TaxRobin

    Tax Consultant

    Satisfied Customers:

    524
    International tax
  • /img/opt/shirt.png taxadvisor.uk's Avatar

    taxadvisor.uk

    Chartered Certified Accountant

    Satisfied Customers:

    2845
    FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    270
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
 
 
 

Related Tax Questions