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paulsav wrote on Wed Dec 22, 2021 3:37pm:
Correct. Only applies if you are a resident when inheriting
Regards
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Pauline
Thank you! That's such a relief.
Posted: Wed Dec 22, 2021 3:46pm
Hi Is the property in the UK your home or are you renting it out?
If it is your home and you sell it whilst not resident in the uk you must do a CGT calculation to HMRC within 30 days.
If it has always been your home until leavung for Spain it is likely there is no liability as it is covered by private residence relief.
Search Gov.uk and search HS283 private residence help sheet it will give you full info and the links to the NR calculation required.
Posted: Wed Dec 22, 2021 7:34pm
Sylv wrote on Wed Dec 22, 2021 7:23pm:
Hi Is the property in the UK your home or are you renting it out?
If it is your home and you sell it whilst not resident in the uk you must do a CGT calculation to HMRC within 30 days.
Read more...
If it has always been your home until leavung for Spain it is likely there is no liability as it is covered by private residence relief.
Search Gov.uk and search HS283 private residence help sheet it will give you full info and the links to the NR calculation required.
Hi Sylv,
Thank you, thats a huge relief. Its our only residence, been here since 2008 and we will be using the proceeds to purchase our only residence in Spain.
Warm regards
Graham
graham2004523 wrote on Wed Dec 22, 2021 7:34pm:
Hi Sylv,
Thank you, thats a huge relief. Its our only residence, been here since 2008 and we will be using the proceeds to purchase our only residence in Spain.
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Warm regards
Graham
When you say been here since 2008 just to clarify you mean in UK.It must be the home you have lived in in the uk if so private residence relef applies.
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Posted: Wed Dec 22, 2021 8:27pm
Sylv wrote on Wed Dec 22, 2021 8:00pm:
When you say been here since 2008 just to clarify you mean in UK.It must be the home you have lived in in the uk if so private residence relef applies.
Hi Sylv,
Yes, lived here in UK in this house since 2008
Warm regards
Graham
Posted: Wed Dec 22, 2021 8:29pm
Helpful member
Sylv wrote on Wed Dec 22, 2021 7:23pm:
Hi Is the property in the UK your home or are you renting it out?
If it is your home and you sell it whilst not resident in the uk you must do a CGT calculation to HMRC within 30 days.
Read more...
If it has always been your home until leavung for Spain it is likely there is no liability as it is covered by private residence relief.
Search Gov.uk and search HS283 private residence help sheet it will give you full info and the links to the NR calculation required.
Yep
When our UK CGT became due, we were in the middle of switching our income tax process from UK to Spain. To avoid any confusion, I wrote to HMRC to check the order of the process. I got no answer (presumably due to Covid/staff constraints); but the HMRC computer doesn't care about Covid, and my wife and I were each fined £100 (automatically) for paying late.
graham2004523 wrote on Wed Dec 15, 2021 2:19pm:
Hi Lovelies.
Wife and I picked up our Visas from the Consulate in Manchester today. Valid until 31 May 2022. So exciting.
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Quick question. If we complete the sale of our house in UK by 31 December 21 we are free to enter Spain at any time in 2022, this means we could avoid Capital Gains tax. If we don`t we aim to get to Spain (Sierra Golf) by mid July 2022. For tax purposes when does the count of 183 days start ? From the day you enter the country, or the day you obtain TIE ??
Thanks in advance
Graham.
Sorry for late response, but I've been away on holiday.
I think you need to check the visa & TIE rules. Assuming you have a Non Lucrative Visa (NLV), my understanding is that you have to enter Spain within 3 months of obtaining the visa and then have one month from entry to apply for your TIE.
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