How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask JGM Your Own Question
JGM, Solicitor
Category: Law
Satisfied Customers: 12183
Experience:  30 years as a practising solicitor.
Type Your Law Question Here...
JGM is online now

We have lived in Australia past 8 years and have not

This answer was rated:

We have lived in Australia for the past 8 years and have not returned to the UK during that time. We would like to know if we will have to pay HMRC CGT on a property inherited in 1999 and which has been rented out since then but has now been sold. I will have to pay CGT to the Australian Tax Office. We are both retired and have not worked in Australia but we do have to complete an ATO tax return each year. The property referred to above has never been a place of residence for us. We have no intention of returning to the UK.
Thank you for your question.
You will pay UK capital gains tax on the disposal. You should advise the Australian Tax Authorities as should be granted double taxation relief.
Here is a link that will help you. Happy to discuss further.
Please leave a positive response so that I am credited for my time.
JGM and other Law Specialists are ready to help you