The following Personal Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Under the non-resident capital gains tax (NRCGT) regime, non-residents are subject to UK capital gains tax on the following disposals:
direct disposals of an interest in UK land (eg the non-resident disposes of UK land that they own)
indirect disposals of an interest in UK land, ie disposals of an asset that derive at least 75% of their value from UK land in which the taxpayer has a substantial indirect interest in the land (eg the non-resident disposes of shares in a company that owns UK land)
TCGA 1992, ss 1A(3)(b), (c), 2B(4)–(6)
The NRCGT rules in their present form were introduced from 6 April 2019 and may be referred to as NRCGT 2019. Other possible names for the regime are FA 2019 NRCGT or FA19 NRCGT.
For full details, see the Non-resident capital gains tax (NRCGT) on UK land ― individuals guidance note. It is recommended to read that guidance note before continuing.
This guidance note discusses how the NRCGT regime interacts with other parts of the tax code.
Although unlikely given the need for the individual to remain non-resident, it is possible that a UK residential property could qualify for principal private residence relief (PPR relief, also known as only or main residence relief).
In order for PPR relief to be relevant, the property would have to be a ‘residence’ for the non-resident, see the Principal private residence relief ― more than one residence guidance note. PPR relief is also only available to non-residents to the extent that the year is not a ‘non-qualifying tax year’, see the Principal private residence relief ― anti-avoidance guidance note.
Where the disposal is subject to NRCGT, the normal two-year deadline for making a main residence nomination (where the individual has more than one residence) does not apply. Instead, the non-resident can make an irrevocable main
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