DISCUSSIONS

Find the answers to many of your expat questions here

View Latest Posts

You're missing out...

As a member you can enjoy exclusive info and offers.

REGISTER NOW

Capital Gains Tax if moving back to the UK

Posted by lyork - Created: 9 years ago
0 0
Sorry no image available

3 replies (Showing replies: 1 to 3)

Sorry no image available
Posted by lime-676998 - 9 years ago

I second the answer suggested by Nigel. You cannot complete any transfer of property until you obtain CGT clearance certificate, so I don't think that going back to England would give you any special rights (however, English people do have some special rights under Cyprus law - ask your lawyer to be certain). 

Sorry no image available
Posted by Nigel Howarth - 9 years ago

Hi lyork,

When you sell your property here, you will be liable to pay Capital Gains Tax on any profit arising from the sale to the Cypriot authorities. Capital gains are taxed at 20%, but there is indexation and some allowances that you can use to offset your liability.

You can read more about Capital Gains Tax on my website at http://www.cyprus-property-buyers.com/law/capital-gains-tax.htm

I don't know about the situation when you return to the UK.

Regards,

Sorry no image available
Posted by achilleas - 9 years ago

I think you have to be out of the country for 7 years for CGT not to apply, but not 100% certain of that.