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NRCGT non-res loss post-April 2015 but gain prior


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Client was resident in UK until December 2015. Non-res thereafter to present (2015/16 split year applied). UK residential property owned from April 2012. Property being sold September 2019. Let out throughout, never main residence.

Cost April 2012: £500,000

Value at 5.4.2015: £600,000

Sale value Sept 2019: £550,000

I've looked at CG73782. Am I right in thinking that:

a) NRCGT is nil?

b) “Other” CGT on the disposal is also nil?

Replies (4)

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By accountantccole
30th Jul 2019 12:53

I normally do three calcs and see what the best result is. Normally (as here) the 4/15 value comes up best.

I didn't think the CGT calc changed - just which number you use as your cost.

Thanks (1)
Replying to accountantccole:
By Red Leader
30th Jul 2019 12:58

Thanks. And do you agree that there is no chargeable gain on the rest of the gain?

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Replying to Red Leader:
By accountantccole
30th Jul 2019 13:41

Rest of what gain?
There is one disposal - cost based on 4/15 value. (unless I have missed something)

Thanks (1)
Replying to accountantccole:
By Paul D Utherone
30th Jul 2019 14:26

I would agree, with the caveat of the client returning to the UK too soon and having to revert to UK rules

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