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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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Client is a Swedish (i.e. non resident and has owned an

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Client is a Swedish (i.e. non resident and has owned an industrial building in UK from Jan 2001 to June 2015. Will he have to pay CGT .... should he have informed HMRC within 30 days of conveyance (as for residential properties?)
is there a form we have to complete for this as I assume we do not just stick it on his tax return?
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.

Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your question..

The 30 days requirement is for residential properties.

You need to complete SA108 - Capital gains Summary along with the main tax return when you file tax return 2016 (year ended 5 Apr 2016).

More information on SA108 can be found here

https://www.gov.uk/government/publications/self-assessment-capital-gains-summary-sa108

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 1 year ago.
You didn't say whether he, as a non resident, would be liable to CGT?
Customer: replied 1 year ago.
Sorry .... did you get that last question about the Swedish client and the sale of a UK industrial property? Do you think he is liable for CGT being non resident?
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your reply.

Provided he has been non resident for at least 5 full years, the gain would not be chargeable to UK CGT. He would have to declare this gain in his own country of residence and pay CGT there.

More information on this can be found here

http://www.expertsforexpats.com/expat-tax/capital-gains-tax-for-british-expats/

I hope this is helpful.

Customer: replied 1 year ago.
you still have to enter it on the sA108 though?
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your reply..

In this case there is no requirement to complete SA108

I hope this is helpful.

Customer: replied 1 year ago.
Sorry - one last thing ..... do we have to inform the Revenue at all??? If so, just by letter? Or is there a form?
Expert:  taxadvisor.uk replied 1 year ago.

There is no need to inform HMRC.

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 1 year ago.

I thank you for accepting my answer.

Best wishes

You may wish to read 6.60 on page 45 of RDR1 here

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/528018/RDR1-residence-domicile-remittance.pdf