Can anyone help? There seems to be so much conflicting information. We are in the process of selling our UK property which was our main residence from 2003-2010. Then we have rented it out-although the tenants moved out in July it will be over the 36 month period of avoiding CGT.
We have always declared this income on UK and Australian tax returns. I have dual nationality and the property is in my name only and we have not bought in Australia. I have two questions, firstly are we liable to CGT in the UK? I believe we are not in Australia due to the 6 year rule. Secondly, when the property is finally sold do I have to pay tax on the money I move into Australia? I already have a Moneycorp account.
Please help!!!!