Mitigating charges on the sale of a property in Europe.
I am a UK resident taxpayer. Some years ago I bought a property in another part of Europe which I now wish to sell. I understand that the profit on sale will be substantially reduced under local law because by the time I dispose of it I will have owned the asset for a minimum period.
Given that much of the gain is exempt under local tax law I should be grateful for advice on whether this is subject to UK capital gains tax. If there is a potential charge how and when does the liability arise? More importantly is there any way that I can avoid this liability for example by becoming non-UK resident for tax purposes during the year in which I make the sale?
I brought no income into the UK and a depreciation allowance meant I had no...
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