Question re capital gain on foreign property
Discussion
dodgydave said:
I'm not an accountant but isn't CGT now 20%, and I think you have to be non resident for 5 years to avoid it.
IIRC there is from 2016/17 a new higher rate on residential property as part of attempts to pop the BTL bubble.- Most gains 10% (or 20% for a higher rate taxpayer).
- Residential property gains 18% (or 28% for a higher rate taxpayer).
CoolHands said:
It would be worth moving to a tax exile for 6 months wouldn't it? Take a sabbatical from work & move to the cheapest place in Switzerland. That's what I would look to do.
It's probably not as simple as that.The residency test is now much more complicated and is likely to require a 5 year absence, not half a year.
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