On furnished holiday rentals and on certain trading assets, Rollover Relief is available. You may be able to defer the gain by reinvesting all or some of your proceeds.

Due to the fact that BTL properties are not included in the relief, most landlords are not eligible for rollover relief.

If a non-UK resident disposes of a property and a Capital Gains Tax liability exists, the Capital Gains Tax must be paid within 60 days of the sale.

For detailed guidance on the new rules please read our guide on how to pay capital gains tax.

In the case of a non-resident, if you owned residential/commercial property on 5th April 2015/5th April 2019, then you can use the property value as of 5th April 2015/5th April 2019 for the purposes of the capital gains tax calculation.

Please see the capital gains tax for UK non residents article for more detailed guidance.

Every individual has an annual capital gains tax allowance of £3,000 for 2024/25 onwards which is applicable for everyone.

Furthermore, you will be eligible for Principal Private Residence relief for any period you lived in the property as your main residence plus the last nine months prior to its sale. You have to be a resident of the property in the relevant tax year for at least 90 days to claim Principal Private Residence relief after 6th April 2015. As a result, it is unlikely that you will receive relief while you are abroad, but you may receive relief for the final nine months plus the time you occupied the property while you have lived in the property in the UK.

Capital gains tax may be reduced or even avoided in certain circumstances. An example of this type of circumstance would be:

There is a property in Mrs Bretton’s name that she owns. If Mr Bretton has not already used his CGT exemption in the tax year in question, it may be an idea to transfer the property into joint names with him before a sale. Each partner’s income level must be taken into account, since one partner’s capital gains tax rate may be higher than the other’s. It is also important to take care as HM Revenue and Customs could challenge the transaction as invalid under anti-avoidance rules if done shortly before a sale. The spouses will also need to declare any income they receive after the transfer of the property on their tax returns, which may increase their taxes. Additionally, the property would need to be conveyed into their joint names.

During your ownership of a property, if it was occupied as your primary residence at any time, you will qualify for principal private residence relief.

Please read the article on CGT PPR for more information.

Divorce can be a stressful time, so you should seek professional guidance.

Divorced spouses can benefit from extended CGT relief, but only until the end of the tax year in which they separate. For more detailed information on this please see the following capital gains tax and divorce.

Not at all. Corporations pay corporation tax instead. Profits from the sale of property held in a company are subject to 19% corporation tax.

Beginning in April 2023, the Government will tax the first £50,000 at 19%, the next £200,000 at 26.5%, and the remaining profits at 25%.