Tax Implications of selling our UK home whilst overseas , is it worse than when you are a resident ?

[Spindlewood]

Hi , does anyone know a good place to check on tax / capital gains implications of selling a UK property whilst living abroad . We kept our family home and have rented it out for 3 years . We rent overseas . Thinking we might want to sell it when our current tenants leave in spring, but just wondered if we will pay more in tax as we are not in the UK still . Is there a useful web site anyone could kindly recommend ? Thanks

It will depend where you are currently paying tax. If you sell once you are back in the uk you will pay capital gains tax. Your current country may also require that you pay tax on capital gains overseas if you are resident there.....

This is a good place to start for UK guidance:
www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-property

In short the rules changed so that even if it is your 'main or only home' (i.e. you didn't buy in the country you are currently living in) then CGT is still payable in the UK on the gain from April 2015 and whilst you were overseas (I think....check though!). We sold just before this and were advised that a valuation should be done asap if we sold past the change of rules date. HTH