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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4879
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have been living in norway for 18 years. I have just sold

Resolved Question:

hi, I have been living in norway for 18 years. I have just sold my( flat) home and want to bring the money back to the uk to be able to buy a home there. do I have to pay tax on it? what makes it abit more complicated is that i sold my origional home just before Christmas last year and bought a flat. I still had some money over from the sale of the origional house and am planning to bring that back with the money from the sale of the flat. i dont know if I am a resident of norway or uk right now.. since I have registered tempory change of residence to the Norwegian -authorities from 17.8.16. although i was temporarily living with my parents and registered at their address from early june. I have been back in norway again since 4July, sorting out my property. and plan to register at my parents address for residence back in the uk. how does this affect my tax situation. all the money i have comes from the sale of my previous permanent residence
Submitted: 7 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 7 months ago.

Thank you for your question..

Please clarify for me

The property in Norway - was this your only property and main residence during the period of ownership?

You say you have been living in Norway for the past 18 years?

When did you return to the UK to take full time residence here?

Many thanks

Customer: replied 7 months ago.
i have lived in norway since january 1998. These were my sole residences. I only owned them one at a time. I registered as living at my parents house in early June to be able to vote.. I dont know if this was a declaration of permenant residence..my main residence in norway was then under instruction to sell with an estate agent out in Norway
Customer: replied 7 months ago.
I am also a bit unclear as to how my pension will be affected by the move. i have not been paying national insurance in england, during these years.
Expert:  taxadvisor.uk replied 7 months ago.

Thank you for your reply..

Based on what you have stated, the original home you sold just before Christmas (2015) and the flat you recently sold were your only properties and your main residence.

All gain made on these sales is covered by private residence relief in full. and therefore no CGT payable to UK tax authorities.

More information on private residence relief is covered here

https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief

If the flat is sold after you became UK resident for tax purposes, you should report the gain on supplementary pages SA108 - Capital gains Summary when completing your Tax return for current tax year.

The remittance of funds into a UK bank account is tranfer of capital from one bank account to another. You should make your bank in the UK aware of impending transfer of funds to comply with money laundering regulations.

As far as your pension status is concerned you should contact The Department of Works and Pensions here

https://www.gov.uk/government/organisations/department-for-work-pensions

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.

Customer: replied 7 months ago.
is there any tax to pay on the transfer of capital from norway assuming all the above conditions are met.. sale of sole residence.. sorry maybe superfluous question
Expert:  taxadvisor.uk replied 7 months ago.

Thank you for your reply.

There is no tax payable on transfer of capital.

I hope this is helpful and answers your question.

If there are no more issues, I will appreciate if you would kindly rate my service/accept the service I have provided before you leave the site, to ensure I get credited for it by Just Answer.

taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4879
Experience: FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
taxadvisor.uk and other Tax Specialists are ready to help you
Customer: replied 7 months ago.
I will pay you.. but.. i must go out and haven't finished my questions yet. having registered to vote does it mean that i am a perminant resident?.. I am coming over with a motorhome purchased in norway. I do not want to reregister it in uk as I want to take it back again and sell it within 6 mounths.. how do i stand, having registered myself to vote.. is that the same as being registered for tax purposes?
Customer: replied 7 months ago.
i am in till 12:35!
Expert:  taxadvisor.uk replied 7 months ago.

Thank you for your reply.

My understanding is you register to vote because you are resident at a place at a given time (this does not make it permanent residence - it can be temporary).

Some information on registering to vote can be found here

http://www.electoralcommission.org.uk/faq/voting-and-registration/i-have-two-homes.-can-i-register-to-vote-at-both-addresses

I thank you for accepting my answer.

Best wishes

Expert:  taxadvisor.uk replied 7 months ago.

Your reward of a bonus is greatly apprecaited.

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