CG on sale of property abroad?

My customer has purchased a land abroad and later built a property on this land. Now he wants to sell it for £100k and use it as a deposit in a purchase of property in UK. As he does not own any other properties in UK, he will use this one as his permanent house.

It is difficult to find anything about it on the HMRC website.

I was wandering whether this sale would attract a capital gain tax relief on the basis that the money is reinvested into new tangible asset (roll-over relief)?

 

Comments
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residence and domicile

david5541 |

Reinvestment relief?

BKD |
BKD's picture

Based on the information given - no

tonycourt |

Trade?

John R |
John R's picture

Non-Trade

scelniak |