Need to report gains if resident at time of sale but non-resident afterwards

We have recently sold a UK property that was our main residence. At the time of exchange of contracts and completion we were resident in the UK but have since moved abroad. Concerning the guidance on the reporting capital gains web page: "If you’re a UK resident, you do not need to report your gains online if your total gains are less than the tax-free allowance." Does this mean resident in the UK at the time of the sale of the property?

Hi,

Yes, if it was also your main residence for the whole period of ownership, you do not need to declare the sale.

Thank you.

Thank you for this clarification. The property was rented out for part of the period we owned it due to the fact that we lived and worked abroad. We lived in the property as our main and only residence both before and after our years abroad. My understanding from the Capital Gains manual (https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg65040, S223(3)(b) TCGA92) is that myself and my spouse can both treat this period as being resident. And furthermore the guidance at https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg65050 says that “It does not matter how the residence is used during a qualifying period of absence. For example, it may be let without any loss of relief.” So on the basis of claiming Private Residence Relief I have determined that there is no capital gain for the sale. And from the clarification above there is no need to declare the sale due to us being resident in the UK at the date of the sale. Just wanted to double check that there is nothing about these circumstances that require a declaration to be submitted. Thanks

Hi,

This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances. You can contact our Income Tax team for advice.

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Alternatively, you may wish to engage the service of a professional adviser to assist with your enquiry.

Thank you.