Capital Gains Tax on property split with Expat

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    Capital Gains Tax on property split with Expat

    I have a joint property investment with a friend who is non-resident (has lived in Singapore for 10+ years and is not looking to come back any time soon).
    If we sell it, I know I will be liable for Capital Gains Tax on my share as I am UK resident ::=, but will my friend be liable for any on his share?

    #2
    Non-residents pay tax on the capital gain calculated as starting from 6 April 2015.

    So your non-resident friend should get a valuation for the property assuming a sale on 5 April 2015 and retain for future reference. If you sell now, there is little capital gain for 3-4 months from 6th April 2015 and so probably after deducting personal allowance, your friend has Nil tax to pay.

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      by Gordon999
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      30-11-2021, 21:35 PM
    • Will they raise taxes again?
      by JK0
      My accountant just finished my 2020/21 tax return, and my income is half of the previous year. I did not think it would be quite that bad. (Half my tenants moved out, and I had a job to replace them. Plus had to get fourteen EICR's!)

      I'm guessing you guys are in a similar boat. Never mind...
      27-11-2021, 20:20 PM
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      by Gordon999
      There seems to be 2 problems ( I am not an accountant ) :

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      by Neelix
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    • Reply to Will they raise taxes again?
      by Neelix
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      28-11-2021, 09:00 AM
    • Reply to Will they raise taxes again?
      by Neelix
      Wow.

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      by jpucng62
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      28-11-2021, 06:58 AM
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      by JK0
      The EICR's cost around £12k in total....
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