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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have three properties in the UK that I collect rental income

Customer Question

I have three properties in the UK that I collect rental income and pay UK tax on each year. I left the UK in 2005. These properties were purchased over the period 1996/2010. Am I liable to Capital Gains. I was under the impression that if you have been away for such a long time and no intention of returning and therefore no longer domicile that CGT does not apply? Regards George
Submitted: 11 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 11 months ago.
Thank you for your question...Capital gains tax rules on sale of residential properties by non residents for UK tax purposes changed wef 6 Apr 2015.Where as in the past, provided you sold your property whilst being a UK non resident for tax purposes, you would not pay any CGT this concession changed from 6 Apr 2015. This is fully explained in HMRC guide herehttps://www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-propertyFor residential property held on 6 April 2015 and disposed of on or after that date, the 'default' position will be for the gain on disposal to be on the excess over the market value at 5 April 2015.You may find this article helpful and the link is herehttp://www.shipleys.com/resources/issue/CGT-non-uk-residents 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.

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