Non Resident - Sale of only House - Capital Gains Tax

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    Non Resident - Sale of only House - Capital Gains Tax

    Hi All,

    I have been a NON Resident out of the UK for 2 years and im considering selling my only property in the UK. I paid 90k for it in 2006 and if im lucky to sell it, it would sell for arounf 85-90k therefore there would be 0 profit. How would I be affected in relation to capital gains tax in the case?.

    #2
    If you paid 90K and sell for same or less, you have no profit to report or any liability for Capital Gains tax to pay.

    Comment


      #3
      If you are non resident then you are not liable to UK CGT anyway. You may have to report the sale of a world wide asset in the country you are now resident but there should be no tax of any sort. Regards Peter

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