Chortlepuss Posted February 3, 2015 Share Posted February 3, 2015 Has anyone returned to UK to their original house rented whilst they were in Australia? We have been in Oz for 8 years, 3 years as 457 and the rest as PR/Citizens. We have rented here and do not own any other property so it has remained our principal residence. I am trying to wade through the mountain of advice on capital gains tax and it is as clear as mud. Once we become UK resident again, and are living in our old house, will CGT be liable when we sell it? Is there a minimum period for which we need to live in the property for CGT not to apply? We may wish to move to another part of the UK. I have even been on the UK gov calculator, but it does not have this scenario I know that I will have to take advice on this, but anyone who has experienced similar or who understands the regulations, be grateful for any views.... Quote Link to comment Share on other sites More sharing options...
wolvesaussie Posted February 3, 2015 Share Posted February 3, 2015 No expert but I doubt very much you would have to pay anything, if is your only house and you move back to it. You are lucky this is even an issue, my UK house is worth less than paid 8 years ago Quote Link to comment Share on other sites More sharing options...
Que Sera Sera Posted February 3, 2015 Share Posted February 3, 2015 No expert but I doubt very much you would have to pay anything, if is your only house and you move back to it. You are lucky this is even an issue, my UK house is worth less than paid 8 years ago This doesn't surprise me our UK house has just been sold again for less than we sold it for over 6 years ago. Shocking. Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted February 4, 2015 Author Share Posted February 4, 2015 We have lived in it for 9 years and rented it out for the last 8. The capital appreciation for UK tax purposes from when we bought it till now is quite substantial - but after fighting with lots of articles and calculators, taking into account residence relief and lettings relief I think our gain will be negligible. It is so hard to calculate so I will get a UK accountant to help me when we sell. Quote Link to comment Share on other sites More sharing options...
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