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liveandlearn

Selling House in Oz from UK & CG tax

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Hello,

I am hoping someone can offer some advise please. 

I have moved back to the UK, currently staying with parents and do not own a property here. 

My house in Oz will go up for sale end April. 

I will need to complete my part of the sale here, ( my husband is still in Melbourne but we have separated).

Can anyone advise steps I take here ?

i know I need to set up an account for the sale proceeds with a solicitor whilst me and husband agree final division of money from sale. 

I will use proceeds of the sale to hopefully buy a property here. 

Do I also need to engage an accountant to assist with Capital Gains Tax ? I have PR so husband thinks I sign some form he has sent me entitled “Foreign Residents Capital Gains “ that the conveyancer has provided him. I’m not convinced about this as I’m residing here in UK now. 

Can anyone recommend a company that can advise me properly please it’s all soooooo confusing especially when going through the mire of seperation .. 

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I do vaguely remember having to complete one of these.  From memory it was a Capital Gains Withholding Tax Clearance Certificate that we filled in, but it was whilst we were still resident in Australia.  

ETA:  We were citizens at the time and still in Australia.  I've just checked back on my emails and this is the form that we had to complete https://www.ato.gov.au/FRWT_Certificate.aspx.  I would have thought your conveyancer should be able to advise you on what you need to fill in.  Can you contact them directly?

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Thanks LKC ! Yes that’s the form my husband has sent over. I don’t think the conveyancer really knows re Australia/UK tax. I’ve contacted an expat tax firm so hoping they may be able to advise. 

Thanks so much ! 

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1 hour ago, liveandlearn said:

Thanks LKC ! Yes that’s the form my husband has sent over. I don’t think the conveyancer really knows re Australia/UK tax. I’ve contacted an expat tax firm so hoping they may be able to advise. 

Thanks so much ! 

Allen Collett an MA agent who posts regularly is recommended for UK/Aust tax affairs is worth contacting.

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As far as I know, you won't pay capital gains on the money, if it is the only property you own and it is/was your main residence.  I'd definitely recommend doing what ramot has suggested and see if Allen Collett could help you.  

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