Returning expat CGT liability on selling main residence?

by Readers Question

15:33 PM, 6th April 2021
About 2 weeks ago

Returning expat CGT liability on selling main residence?

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Returning expat CGT liability on selling main residence?

Having lived in our main residence for three years my family relocated and moved abroad for my husband’s work.

We are now back living in the UK and have been living in the previous main residence for the last twelve months.

I was wondering what the CGT liability will be when we sell the house which we are planning on doing within the next year.

The rules were that returning ex-pats had to live in the main residence for 18-24 months.

Many thanks

Mark

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Neil Patterson

15:41 PM, 6th April 2021
About 2 weeks ago

From HMRC >> https://www.gov.uk/tax-live-abroad-sell-uk-home

When you get tax relief

In most cases you don’t pay any tax for any tax years in which you, your spouse or civil partner spent at least 90 days in your UK home.

To qualify, you must nominate the home as your only or main home when you tell HM Revenue and Customs (HMRC) you’ve sold it.


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