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Capital gains tax
Posted: Mon 14 Aug 2017 1:47 pm
by nermal
I am hoping the sale of my house in England is going through .
As I dont have an accountant over there can anyone advise how or where I can find out about this .
Re: Capital gains tax
Posted: Mon 14 Aug 2017 3:27 pm
by Hedge-fund
HMRC website is a good place to start. A lot will depend on whether it is your main/only residence and the sale price.
Re: Capital gains tax
Posted: Mon 14 Aug 2017 3:46 pm
by kerry 6138
Re: Capital gains tax
Posted: Mon 14 Aug 2017 9:24 pm
by Hector
If you are selling through a solicitor, I'm sure they will advise you. Are you still a UK taxpayer? As already said, if it is your main UK residence then CGT is not payable.
Re: Capital gains tax
Posted: Tue 15 Aug 2017 12:14 pm
by nermal
Thanks for your help especially the website .I have lived here 33 years have no other property in England .I rented the house out for maybe 26 years during which time I paid tax.My solicitor says he isnt qualified to advise on tax matters.
Re: Capital gains tax
Posted: Tue 15 Aug 2017 1:04 pm
by Asia111
I have sent you a pm
Re: Capital gains tax
Posted: Fri 08 Sep 2017 3:28 pm
by nermal
Thank you acacia never received a pm
Re: Capital gains tax
Posted: Fri 08 Sep 2017 5:39 pm
by Asia111
Nermal
I sent you a pm 15th August and you replied to it on the same day!
Re: Capital gains tax
Posted: Sat 09 Sep 2017 6:12 am
by Reyntj
My understanding if you are a non uk resident that up unil aril 2016 non uk residents are cgt exempt . So i you sell your house now the gain will only apply from april 2016 . It will e proportioned ie the time from april 2016 divided by number of years owned will give the percentage. You can deduct buyin and selling costs and any will only apply to any actual gain. Also even if you are non resident you ae still entitled to a cgt allowance of £11300. Any gain after this will be taxed at 18 % if it falls within your basic income tax allowance or 20 to 28 % above .