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  #101  
Old 12.12.2017, 14:36
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Re: Proposed Capital Gains Tax on UK property for expats

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It asks for the date of signing contracts so it's definitely date of exchange of contracts & not completion as I mentioned earlier in the thread
My recent experience was this is nowdays often/typically the same date in the UK.

This thread reminds me to get a valuation done on our 1994 purchase effective April 2015 before it becomes a really really retrospective exercise.
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  #102  
Old 12.12.2017, 15:36
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Re: Proposed Capital Gains Tax on UK property for expats

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My recent experience was this is nowdays often/typically the same date in the UK.

This thread reminds me to get a valuation done on our 1994 purchase effective April 2015 before it becomes a really really retrospective exercise.
That may work if buying an empty property but wont work with someone who needs to move out into a house they are buying. We were hoping to exchange on my wife house on Friday to move out tomorrow, however it looks like we will not exchange before the new year now due to snow & then Christmas.

As any valuer will have to base on other properties sold, it won't be a problem to do later. I know someone who recently got a 1982 valuation as thats a reset date got CGT on properties owned before that date.
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  #103  
Old 13.12.2017, 11:07
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Re: Proposed Capital Gains Tax on UK property for expats

And of course in the UK- you never know what will happen till the very last minute - and you buyer will try to gazuump on the day of signing- saying properties have dropped since they agreed to buy. Bonne chance.
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  #104  
Old 14.12.2017, 10:50
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Re: Proposed Capital Gains Tax on UK property for expats

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And of course in the UK- you never know what will happen till the very last minute - and you buyer will try to gazuump on the day of signing- saying properties have dropped since they agreed to buy. Bonne chance.
Being gazumped is the buyer getting a higher offer from someone else. Having the offer reduced at the last minute is being gasundered.
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  #105  
Old 03.03.2021, 13:34
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Re: Proposed Capital Gains Tax on UK property for expats

Just thought I'd give this a bump as I have a real-life UK property sale situation.

The HMRC calculation link is still relevant and valid.

I havent yet found any guidance on i) whether a formal valuation as at 6.4.15 is needed or you can simply provide your own view (eg research on rightmove prices for the postcode and property type) ii) whether the relief days are calculated on the same basis as UK resident relief ie including period living away from the home for UK work or working outside the UK.
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  #106  
Old 03.03.2021, 13:43
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Re: Proposed Capital Gains Tax on UK property for expats

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Just thought I'd give this a bump as I have a real-life UK property sale situation.

The HMRC calculation link is still relevant and valid.

I havent yet found any guidance on i) whether a formal valuation as at 6.4.15 is needed or you can simply provide your own view (eg research on rightmove prices for the postcode and property type) ii) whether the relief days are calculated on the same basis as UK resident relief ie including period living away from the home for UK work or working outside the UK.
A valuation is helpful if HMRC decide they don't agree with your figures, it's not a requirement.
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Old 03.03.2021, 14:14
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Re: Proposed Capital Gains Tax on UK property for expats

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A valuation is helpful if HMRC decide they don't agree with your figures, it's not a requirement.
Useful. Thanks. "Luckily" London flats without garden space are way off the stratospheric pre Brexit referendum values of early 2015. I figure I'll use the rightmove index and the actual sale value to project backwards and pay a surveyor if challenged. On that basis the relief days are irrelevant.
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