Question re capital gain on foreign property

[dodgydave]

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.

[Ozzie Osmond]

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).

[dodgydave]

Cheers Ozzie, I had missed that one.

[Alpinestars]

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.

[dingg]

err what about just not telling the taxman


probably not the best advice , but do you feel lucky

[Eric Mc]

dingg said:

err what about just not telling the taxman


probably not the best advice , but do you feel lucky

I'm always pretty gobsmacked by comments like that.

[Jockman]

Eric Mc said:

dingg said:

err what about just not telling the taxman


probably not the best advice , but do you feel lucky

I'm always pretty gobsmacked by comments like that.

Best kept off public fora.