Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Readers' forum: European gain

20 November 2018
Issue: 4673 / Categories: Forum & Feedback

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...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon