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Readers' forum : Non-resident tax

23 February 2016
Issue: 4539 / Categories: Forum & Feedback

Calculation of gains tax liability on sale of property by non-resident expatriates.

My clients emigrated to US in 2008 and let their former residence in the UK. In June 2015 the property was sold. I believe that these facts will be relevant.

  • The property was acquired in June 1998 for £236 500 and the costs of acquisition were £3 365.
  • The house was sold for £535 000 and selling costs were £10 000.
  • The property was occupied as the clients’ main residence from June 1998 until June 2008 when it was put on the market for letting.
  • A tenant was found in February 2009 and remained in the property until it was sold in July 2015.

I am uncertain as to whether there would have been a liability to capital gains tax under the old rules on the gain after main residence relief letting relief...

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