Selling House - Living Abroad CGT implications

HappyBudda

Registered User
Messages
182
Hi
I have searched the site for an answer to this but not found what i need so any help appreciated
I paid 165000 for our house 137 months ago. We moved out 24 months ago and manage to rent for 12 months. the house being idle for the rest of the time.

I am hoping after costs to have 200000 after sale

I live in the UK

What if any CGT am i liable for.

I am surprised with offer received as on paid the lower LPT. Are their implications there also?

Thanks in advance
Rob
 
I think you're liable as the asset is land/buildings in the state, so you are liable irrespective of your own status(domicile/residence)

The CGT manual on the Revenue site has a good example that may apply to you, I'm assuming it was your PPR.

Example 5: Principal Private Residence relief where owner has not spent all of period of

ownership in dwelling house (see Chapter 5)


Don't forget your 1,270 annual allowance also.