Hi,
I'm currently an ex-pat, with a flat in the UK that has been rented out for about 5 years (not 100% continuously, but nearly). It is very unlikely that I'll return to live in that flat long-term, although it is reasonably likely that I'll come back to the UK in a few years.
What would I have to do in order to avoid CGT liability on the flat, if I don't sell until after returning? Is there any chance of claiming exemption as my primary residence, since I have no other UK address? If it was worth my while for tax purposes, I could probably live there for a little while after returning, but not for years on end.
The obvious alternative is to sell while I'm away. This should be fully exempt, I believe (I'm about to pass the 5 year threshold for that). But I don't really want to do that, both due to the effort involved and its value as an investment/hedge against house price rises. It's only a small flat in a cheap area, and the tax bill is unlikely to be very large.
James