Can anyone tell me whether a UK non-resident and non-domiciled person is subject to capital gains tax on UK investment property (real estate)? The prospective investor is a company formed and incorporated abroad and which never had any business activity or employees working within the UK.
Tony
Almost certainly not.
For a UK resident who moved abroad and became non-resident prior to March 1998, no GCT is payable. Those who left the UK after March 1998 will need to have remained outside the country for five consecutive tax years to avoid CGT.
Chris
Thanks.
Tony
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