Gain calculation

My clients are resident abroad (and presently not resident/not ordinarily resident in the UK) and have sold property in the UK since leaving.

It now seems likely that they will return to the UK before having spent five complete tax years overseas and in that event I presume that the gains will be brought into charge.

My question is how is the capital gains tax liability calculated on such gains arising during a period of temporary residence abroad?

Are they chargeable in the year of resumption of permanent UK residence or in the year in which the gain arises?

And which year is the basis of the rates and allowances to be used?

And is the personal allowance and starting rate available when carrying out this calculation?

Raders' advice is welcome.

Query 17 168 — Offshore.

Reply by E.K.

The client's circumstances have now changed and it is likely that...