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.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Muhammad Haider Your Own Question
Muhammad Haider
Muhammad Haider,
Category: Tax
Satisfied Customers: 817
Experience:  Director at HM Accountax
Type Your Tax Question Here...
Muhammad Haider is online now

I have a question about CGT on the selling of US property as

This answer was rated:

Hello, i have a question about CGT on the selling of US property as a UK resident for tax purposes. On checking US rules i believe i will have to 15% on any gain over $40K. As a basic tax rate payer in the UK i thinki will be able to claim this back as relief but assume it will be offset against UKtax due on the gain which i think will be 18% over the annual 12300GBP allowance: Is thsi correct? Thank you in advance
JA: Have you talked to a lawyer about this? In which country do you live? If different, which country is your legal question related to?
Customer: I am British military temp assigned to the US but remain UK resident for tax purposes as i am paid by UK MOD
JA: What steps have you taken so far?
Customer: I have a US accountant taking care of the US side of things but will look to move the proceeds of the sale after all costs to the UK later this year
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Not thati'm aware of at this stage


I am an advisor at JA and happy to assist you.

Yes, you are right, the US tax will give you relief for UK tax.



Customer: replied 17 days ago.
Thank you Muhammad, so I assume I will be required to pay 18% on any gains over 12300GBP with no additional relief due having owned the US property for over 10 years?
Thank you in advance.

Yes, but you'll get relief for taxes paid in US.

Muhammad Haider and 2 other Tax Specialists are ready to help you
Customer: replied 16 days ago.
Thank you