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Moving abroad and CGT
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| Moving abroad and CGT |
Posted: Aug 5 04 16:54
Total Posts: 1
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My partner and I are selling both our PPR and a flat, which we currently rent out, and are relocating to Finland. The flat is owned by my partner who is a Finnish national. My partner has lived in the UK permanently for the past 11 years. She has owned the flat for 6 years and has rented it out for the past 4 years. She has not worked for 2 years and, apart from the flat, does not receive any income.
I would appreciate it if someone could advise us whether their would be any way to reduce the CGT on the sale of the flat
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Posted: Aug 6 04 02:08
Total Posts: 16
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Hi
I am happy to look at this for you in detail if you would like to email me at ian763@aol.com. I am a chartered accountant and property investor.
Best Regards
Ian
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Posted: Aug 25 04 11:40
Total Posts: 31
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You may find it more tax efficient to keep the investment property and sell after living abroad for 5 tax years. But then, who knows what the tax rules will be in 5 years trime.
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Posted: Sep 23 04 16:45
Total Posts: 2
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I believe there will be very little to pay on this transaction. I would favour the move now in which the letting relief is gong to have a major impact.
Your tax affairs are sufficiently complex this year to be seeking professional support from a tax advisor.
Your wife's project management can be used to reduce the profits but be awre they will be taxed on her.
I would have thought you would be happy develop a free telephone consultation to discuss your affairs. Please feel to email me on colin@cranleys.co.uk
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