UK Tax
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Answered in 10 minutes by:
9/12/2012
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 975
Experience: Chartered Accountant >20 years + Qualified IFA
VerifiedTaxVince :
Hi there
Firstly, the details of this chat and your question will be crawled by Google and appear on internet - you may need to remove your client names and address on the question for privacy.
Back to the question. Could you clarify the residency periods - your first statement says the couple have been French residency from 1998-2005 and yet on another sentence says then only came back to UK in 2012?
TaxVince :
i guess you are offline.. i will log out but we can chat anytime....
Thanks. Then in that case there is no UK capital gains to pay as the your clients were UK non residence for at least "five years' of non-residence" which is required before a gain on an asset acquired during residence is exempt from UK capital gains tax. Im not sure what implication there are in France but there is no tax liability in UK.
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 975
Experience: Chartered Accountant >20 years + Qualified IFA
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