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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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I sold my Prime residence in South Africa, before returning

Resolved Question:

I sold my Prime residence in South Africa, before returning to the UK and purchasing a home here. Is there a capital gains liability
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi.How long did you live in South Africa?
Customer: replied 1 year ago.
29 years
Customer: replied 1 year ago.
Also owned the property (My home) for 28 years
Expert:  TonyTax replied 1 year ago.
Thanks. Leave this with me while I draft my answer.
Expert:  TonyTax replied 1 year ago.
Assuming that the property in South Africa was your main home for the entire period of ownership, then any gain will be exempt from UK Capital Gains Tax under the main residence rules which you can read about in HS283. If the property was sold before you returned to the UK, the gain would be exempt from UK CGT in any event. I hope this helps but let me know if you have any further questions.
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