Katarzyna Kowalska
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Capital Gains Tax Query on EU Property Sale for UK Resident
Good Morning, I hope you're doing well. If someone sold a property in the EU but is a UK resident, will Capital Gains Tax (CGT) apply? In the country where the property was sold, there is an exemption from paying tax on the sale if the property was purchased more than 5 years ago, so no tax is due there. The property was not rented out during this period and has been the main residence since becoming a UK resident. Can I claim Private Residence Relief, and how would it be calculated? Thank you in advance for your assistance.