Wanderer Returns Posted September 2, 2020 Share Posted September 2, 2020 Hi, I'm a British/Australian citizen and I returned to Australia in January after 5 years in the UK. My house sale in the UK is proceeding, but I'm now an Australian resident for tax purposes. The house is my only property and principle residence. I bought it for £240,000 in May 2018 and I'm now selling it for £258,000. Will I be liable for any kind of CGT or income tax in either the UK or Australia? Many thanks in advance. Quote Link to comment Share on other sites More sharing options...
newjez Posted September 2, 2020 Share Posted September 2, 2020 3 hours ago, Wanderer Returns said: Hi, I'm a British/Australian citizen and I returned to Australia in January after 5 years in the UK. My house sale in the UK is proceeding, but I'm now an Australian resident for tax purposes. The house is my only property and principle residence. I bought it for £240,000 in May 2018 and I'm now selling it for £258,000. Will I be liable for any kind of CGT or income tax in either the UK or Australia? Many thanks in advance. I would say no to either as your principle place of residence. 1 Quote Link to comment Share on other sites More sharing options...
rammygirl Posted September 3, 2020 Share Posted September 3, 2020 Doesn’t mean that you don’t have to declare it though both in Aus and UK. 1 Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted September 4, 2020 Author Share Posted September 4, 2020 On 03/09/2020 at 10:16, rammygirl said: Doesn’t mean that you don’t have to declare it though both in Aus and UK. @rammygirl that's what I'm somewhat bothered about. There's sure to be a form somewhere that needs to be completed! Quote Link to comment Share on other sites More sharing options...
Ken Posted September 4, 2020 Share Posted September 4, 2020 3 hours ago, Wanderer Returns said: @rammygirl that's what I'm somewhat bothered about. There's sure to be a form somewhere that needs to be completed! Yes, it's in the UK. "a non resident taxpayer selling a residential property in the UK is required to report the disposal of the property on a Non Resident CGT (NRCGT) return within 30 days of the day after the date the property sale is completed" Quote taken from the Articles section of this very website. See: 1 1 Quote Link to comment Share on other sites More sharing options...
Wanderer Returns Posted September 7, 2020 Author Share Posted September 7, 2020 On 05/09/2020 at 00:24, Ken said: Yes, it's in the UK. "a non resident taxpayer selling a residential property in the UK is required to report the disposal of the property on a Non Resident CGT (NRCGT) return within 30 days of the day after the date the property sale is completed" Quote taken from the Articles section of this very website. See: Hi Ken, thanks for that info - very much appreciated. Hopefully this should keep Boris and his merry band of robbers at bay! Quote Link to comment Share on other sites More sharing options...
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