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We have a client who lived in a flat in London before going abroad to be self-employed for some 25 years.
During the whole time our client has been abroad the London flat has been let out and income declared correctly each tax year.
Our client has now advised us that he wants to return to the UK and reoccupy the flat for two or three years before selling it.
Our view is that the property must be sold while our client is still living abroad to avoid capital gains tax.
On the HMRC website the emphasis seems to be on employment abroad rather than self-employment. Under ‘Working away from home’ it states:
‘You’ll still get the full relief if you couldn’t live in your home because you were employed and either:
- you carried on all of your work or duties...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
