Post by rgs2001uk on Jul 10, 2017 23:19:13 GMT 7
Anyone on here, had to pay CGT, if so why?
If not how did you avoid it?
www.expertsforexpats.com/expat-tax/capital-gains-tax-for-british-expats/
Even though you may be deemed non-resident for income tax purposes, you are treated as temporarily non-resident for capital gains tax purposes for up to 5 years. Certain gains made during that time are taxed in the year you return to the UK if within five years.
If, however, the asset was acquired after you had left the UK, then the gains are not subject to UK Capital Gains Tax. When double taxation agreements are taken into account, capital gains may be completely exempt from UK tax but taxable in your host country. As such there is still room for planning where the host country charges a lower rate than the UK.
www.expertsforexpats.com/expat-tax/statutory-residence-test/
If not how did you avoid it?
www.expertsforexpats.com/expat-tax/capital-gains-tax-for-british-expats/
Even though you may be deemed non-resident for income tax purposes, you are treated as temporarily non-resident for capital gains tax purposes for up to 5 years. Certain gains made during that time are taxed in the year you return to the UK if within five years.
If, however, the asset was acquired after you had left the UK, then the gains are not subject to UK Capital Gains Tax. When double taxation agreements are taken into account, capital gains may be completely exempt from UK tax but taxable in your host country. As such there is still room for planning where the host country charges a lower rate than the UK.
www.expertsforexpats.com/expat-tax/statutory-residence-test/
