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Posted Thu, 29 Feb 2024 13:47:40 GMT by Maja B
Hello The client planning to relocate to Australia, in the meantime they want to keep their property in the UK and rent it out for a few years. Will they have to pay CGT, if they decide to sell that property in the future? Also, how does the foreign income affect their Self Assessments, when submitting income for rental of that property? Kind Regards
Posted Fri, 01 Mar 2024 12:29:56 GMT by HMRC Admin 25
Hi Maja B,
HMRC cannot comment on future events as legislation and/or plans may change.
Based on current guidelines, capital gains will be due when the property is sold as it has not been their only and main residence for the whole period of ownership.
Thank you. 

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