01223 832477
Tell us about you with a short form >
01223 832477

CGT ON NON-RESIDENTS DISPOSING OF UK RESIDENTIAL PROPERTY

If you let out a UK residence you are naturally liable to UK income tax on the net profit. That is the case even if you are not tax resident in the UK, but that does not mean you have to pay any CGT on the gain on sale if you live abroad

CAPITAL GAINS TAX (CGT) PRIVATE RESIDENCE RELIEF

A gain arising on a property which has been your private residence throughout your period of ownership is exempt from CGT. There are deemed period of occupation rules which may help to provide an exemption from CGT even if you were not living in the property at the time.

EMPLOYEE OWNERSHIP

Following consultation there will be new tax reliefs to encourage and promote indirect employee ownership. This will represent a possible alternative exit route from your business, with full CGT exemption where you pass a controlling interest to your staff via an employee ownership trust from April 2014.