RogerJN Posted February 21, 2010 Share Posted February 21, 2010 If a UK resident sells a French property but leaves the money from the sale in France, is there still a UK CGT liability - however long the property has been owned for. Link to comment Share on other sites More sharing options...
Sunday Driver Posted February 21, 2010 Share Posted February 21, 2010 Dependent upon the period of ownership, the sale of a French property by a UK resident will give rise to a potential CGT liability in France. Any French tax paid is then offset against the UK CGT liability. Where the money is left is immaterial. Link to comment Share on other sites More sharing options...
RogerJN Posted February 28, 2010 Author Share Posted February 28, 2010 Just to be perfectly clear on CGT - If a French property has been owned for 15 years or more, no CGT is liable in France. However, will the full amount of the gain (less personal allowances etc) still be subject to CGT under UK CGT rules? Link to comment Share on other sites More sharing options...
Araucaria Posted February 28, 2010 Share Posted February 28, 2010 Yes, that's it. And it makes no difference where you leave the money. UK residents are subject to CGT on gains that they make anywhere in the world.The country where you make the gain may also want to charge tax. Link to comment Share on other sites More sharing options...
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