[HelenandPhil]

Hello,

Has anyone on here let their house in the UK for a number of years whilst in NZ and then sold it to take the money to NZ? If so did you have to pay Capital gains Tax?

We have checked the guidance form HMRC and cant make any sense of it...:o

Did anyone see a specialist tax advisor before they left? ... if so any recommedations?

Thanks

[Caroline and Dave]

Hi,
You do not have to pay CGT on your own property.You can also sell any other property and not pay CGT if you are living out of the UK and do not return permanently for 5 years. This does not apply to your own property which is free from capital gains tax.
A good financial advisor who is based in NZ but deals with clients coming over is Jeremy Henderson who we use and several other forum members use.
http://www.broadbaseinternational.com/

Hope this helps

Dave and Caroline

[Belmont Babes]

Dave and Caroline you are so helpful to this forum and seem to be a wealth of information, thank you. I was about to ask that very same question so thank you Helen and Phil also.

[Paul]

The basic rule with Capital Gains Tax is if you are non UK resident for tax at the time you dispose of an asset you cannot be generally liable for UK CGT (unless as has been mentioned you return for any period of time in the following 5 years)