Non-Resident Capital Gains Tax (NRCGT) and UK residential property

Under the new law a non resident is liable for CGT on a sale of UK property and a valuation at 6/4/15 is required. The gain is calculated from 2015 to the date of sale. If the individual became non resident in 2022, should the gain be calculated on the increase in value from 2022 to the date of sale if the individual was fully resident in the UK from before 2015 to 2022?

Hi,

No. You would still have to use the April 2015 value, if the property was acquired before that date.

Thank you.

Question 1: When selling a UK property whilst an overseas resident since 2020 and using the online calculator, I understand from your last reply that a value of the property must be supplied at 4/2015, and NOT the date of departure. Is this correct? Question 2: The following questions are posed in the online calculator : How many days before 6 April 2015 did you live in this property as your main home? For how many days between 6 April 2015 and 03/01/2024 did this property qualify for relief? Both questions request a number of days but the first is "did you live in" and the second "did it qualify". If the property was a principal residence does "did you live in" include days that it qualified as a PR, but was not actually occupied. Such absences would include concessions of working overseas; or the 3 year "any other absence"; or the last 9 months of ownership).

Hi,

You can see guidance here:

HS307 Non-resident Capital Gains on direct and indirect disposals of interest in UK land and property (2024)

Thank you.

Thank you for sending the link. Unfortunately the very general information it contains does not answer our specific questions. As you have not commented on our questions may we assume the following statements are correct ? : 1. In all cases the property must be valued at April 2015 irrespective of the date of start of non residence. The only exception is when it was purchased after 4/15, in which case the value required is at the date of purchase. 2. With reference to the specific HMRC questions that must be answered in the online calculation - "Did you live in it as your main home?" and "days that qualify for relief", both terms include any periods when it was regarded as a PR but non residence was within the set allowed parameters (*eg 3 years for any reason, or the whole period of any overseas employment.) It would be very helpful if you could simply confirm our understanding of the conditions acceptable to HMRC when they are not clearly set out in the legislation so that we can ensure that our clients make the correct answers when using HMRCs online calculator.

Hi Paul Hipperson,
We cannot comment on scenarios, we can only provide general information / guidance in this forum.
For an answer to a detailed question of this nature, you would need to contact our Self Assesment helpline or seek professional advice.
Self Assessment: general enquiries
Thank you.