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Old 31.12.2020, 03:54
CH_Me CH_Me is offline
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Re: CGT on foreign property

I sold UK property in 2019 and things have changed quite a bit since I last sold in 2003.

1. CGT must be reported and paid within 30 days
2. Non-residents are not exempt from CGT
3. You can use a valuation made just before 6th April 2015 when non-resident CGT was introduced to calculate the base for the increase. My valuations were estimates made my a friend of a friend in the industry. When you include your calculation in your tax return the UK asks if you paid for your valuation, so maybe that makes it seem more legit in their eyes.
4. The Swiss don't care - I paid CGT in the UK - I just removed it from the tax declaration.

https://www.gov.uk/guidance/capital-...ntial-property

NOTE: "You have 30 days from the date of conveyance to report your disposal and pay any tax due. You’ll get a late filing penalty and be charged interest if you do not do this by the 30-day deadline."

This is why I always do my own taxes and read the rules myself, as no accountant could have helped me with that come the usual tax time.

Last edited by CH_Me; 31.12.2020 at 03:59. Reason: more details on valuation
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