It is one of those queries that I client asks and you think ....that's a good plan but I have no idea! If someone has BTL property and they go and live abroad (US) say for 3 years so they would not be resident in the UK and during that time they sell their BTL property, what would be the CGT implications? Am a right that CGT would still come into play since they are still ordinarily resident in the UK or do I have the wrong end of the stick. Thank you in advance for any comments.
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If they cam back after three years the gain would still be chargeable to UK capital gains tax. They would need to be away for five full tax years to avoid UK CGT.