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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15917
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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My husband is living in NZ I live in the UK in a house my husband

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My husband is living in NZ I live in the UK in a house my husband has owned for over 20 years. During that time it has been his home but it has been rented out for 5 years whilst we were in NZ. Last July I returned to the UK for work and moved into the house. I am due to return to NZ and we have decided to sell the house. We have a joint mortgage, but the house is in his name only. My husband earns and pays tax in NZ but not the UK, I have been working and paying tax for the last year in the UK and the house has been my only residence since July 2013.
We would like to know if we would be liable to pay any capital gains?
Many thanks :)
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

Since your husband is the sole owner of the house and I assume, non-UK resident, if he sells the house now, any gain will be free of any UK CGT charge. As he appears to have left the UK before 6 April 2013, so long as he has maintained his non-UK residence since he left the UK and does not return to live in the UK before five full UK tax years of non-UK residence have passed, he will not have to pay CGT in the UK. The five full tax year period started on the first 5 April after he left the UK.

The UK government intends to tax non-UK resident owners of UK residential property on gains they make with effect from 6 April 2015 but only on any increase in value from 6 April 2015 to the date of disposal.

I hope this helps but let me know if you have any further questions.





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