Re: CGT on foreign property
Best thing to do with UK property is make sure it is your PPR before you leave, let it out while you are gone, and make sure it is your PPR when you return.
That way you maximise your PPR relief which used to be up to 100% even with 7 years absence, now reduced to 5.5 years. On top of that you have the private lettings relief which can wipe out up to another £40k of gains.
All in all, the tax rules for UK property are pretty generous and with the right planning you should be able to pay little or no tax.
__________________
By replying to this post, you hereby grant Phil_MCR a royalty-free license to use, in any way, anything posted by you on the internet. If you do not accept, stop using EF and delete your account.
|