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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Bought our Uk house in 1981 .My wife is Uk resident (greek

Resolved Question:

Bought our Uk house in 1981 .My wife is Uk resident (greek national)and still working .She lives in that same house today .I am Myself Non Uk resident (french national) .Left uk in 2004 to work abroad in greece. 1 st question .If we decide to sell this house , do i have to pay capital gain tax on my share since I am non resident ???. (my understanding is that no capital gain tax is payable.)
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.
Hi.

Can you confirm whether or not you are effectively separated? I ask as a married couple can only have one main residence between them for CGT purposes unless the seapration is likely to be permanent.
Customer: replied 2 years ago.

Hi

We are not separated. we are married.

My children lives with my wife .

I am renting a flat in Greece .

Still come to UK less than 45 days a year /average 30 days a year .

Expert:  TonyTax replied 2 years ago.
Thanks.

Leave this with me while I draft my answer.
Expert:  TonyTax replied 2 years ago.

Hi again.

As I said in my previous post, a married couple can only have one main residence between them. As you are not separated in a marital sense but only a geographical one, then the fact that you work abroad is irrelevant and any gain will be exempt from CGT for both yourself and your wife. HS283 has information on the main residence and CGT.

Many UK spouses work abroad and are treated as non-resident and if they have been sent abroad by an employer to work as opposed to moving abroad to work by choice, they will keep their UK main residence exemption so long as they return to live in the property before it is sold. This does not apply if you are self-employed. Take a look here for more information.

Non-UK resident individuals will have to pay UK CGT on gains made on the disposal of UK residential property from the start of the 2015/16 tax year. However, only the gain made from 6 April 2015 to the date of disposal will be taxable. It will, therefore be necessary to have the property valued as at 5 April 2015 in case the tax office say that you are non-UK resident and that the UK property is not your principle private residence. As you are married and your wife and children live in the property, I cannot see that happening.

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

TonyTax and other Tax Specialists are ready to help you
Customer: replied 2 years ago.

"excellent"

Expert:  TonyTax replied 2 years ago.
Thanks.

Don't forget to rate the answer.

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