I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Yes I believe that you have answered the questions thank you very much. Should I act on your advice, and it should be questioned by HMCR, ire your answers referenceble in any way? And just to confirm - should I move back to UK two days after the sale, the CGT I would be exposed to would only be that which applied to the gain made between April 5th 2015 and the sale date.
Thanks and regards
Miles, thank you for your reply.If you were to move back to the UK after such a long gap, tax year 2015-16 would be regarded as a split year and all income and gains realised prior to returning to the UK would escape UK tax.More information on this can be found here
I hope this is helpful
Hello again. Yes, there is a further question. I now intend to return to UK on 1st June 2015 for,. in the first instance, a holiday. My house will be sold during this period. To still get the assessment of my NRCGT to be considered as that gain between 6th April 2015 and the date of exchange, do I need to still be careful of the days that I am in UK if the sale doesn't get completed for several months? Is it possible that if the period of the sale gets drawn out for too long, and for 2015-2016 I lose my non-residency status, would I then suddenly become CGT eligible as if I was a resident?
Thanks very much
One further question. Of all my properties, I have never lived in any of them. If I return to the UK, I intend to sell one in such a way as to minimise my CGT liability. If I live in another of them for 2 years, does this make this house my main residence, which I can thereafter sell as a resident but free of CGT or is this an old rule?
Thank you for that answer - you have given me a good insight, but there are still many questions. I have to consolidate my thoughts. If I returned to UK and was there for 60 days, (with one tie), and the property sold during that time, could I then stay in UK, having claimed split year treatment, thus avoiding CGT (apart from on that gain made from 5th April), and becoming, thereafter, a resident?
Thank you very much. If I have further questions, I will raise a new one.
I'm sorry to come back once more, but are you saying that I can't come back for any days in the year that I sell the property? Surely I could come back for a certain amount of time? Could I visit, as usual, then leave as the property is sold before returning in the same year for good?
I understand. Thank you very much