We go abroad, our home in the UK that is currently leased capital gains consequences if we sell in the future?
We have not notified anyone of our departure, but remember to apply for a permanent establishment in Greece (in order to our car). The house was my husband home for 30 years and as such has appreciated in value significantly in that time. He probably will depreciate somewhat for a while now, how is the assessed value and what responsibility, if we sell that non-residents of the United Kingdom? A big thank you
I disagree with the previous answer that taper relief was abolished and the annual exemption is £ 9600. If you are not resident in the UK (ie absent for a full fiscal year), you will not pay CGT on the sale of the house. If you are a resident when you sell, the gain is the difference between the sale price and the cost (fewer agents, fees, etc.). The preiod in which you lived in it will exempt, the last 3 years of ownership will be exempt and there is an additional exemption of £ 40 000 as it was left. In Furthermore, the annual exemption this year is £ 9600.
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