Javea Grapevine Issue 176 - LARGE FONT EDITION | Page 78

exemption as you
don’t pay Capital
Gains Tax when you
sell (or ‘dispose of’)
your home if all of the
following apply:

criteria you may have
to pay some Capital
Gains Tax.

Married couples and
civil partners can only
count one property
• you have one home as their main home at
and you’ve lived any one time.
in it as your main As a non-UK resident
home for all the time you will only get Priyou’ve owned it
vate Residence Re• you haven’t let part lief on a UK residenof it out, this doesn’t tial property if:
include having a
• you or your spouse
single lodger
or civil partner were
• you haven’t used
living in the UK for
part of it for busithat tax year
ness only
• the grounds, includ- • you or your spouse
or
civil partner
ing all buildings,
stayed overnight at
are less than 5,000
the property at least
square metres (just
90 times in the tax
over an acre) in toyear (the 90 day
tal
rule)
• you didn’t buy it just
• If you only owned
to make a gain
the property for part
In these cases, you
of the year, the 90
don’t need to do anydays are time apthing. You’ll automatportioned in line
ically get a tax relief
with the time you
called Private Resiwere the owner. You
dence Relief. If you
will also get Private
don’t meet all these
Residence Relief if

the total number of
days spent in any
UK property you
own in the relevant
tax year meets the
90 day rule - but you
can only nominate
one property for Private Residence Relief.
If you don’t meet the
90 day rule you will
be counted as away
from the property for
that tax year.
As, to be classed
as UK non resident,
you will already have
had a “long absence”
and you will also, in
all likeliehood, have
an established home
where you are, the
odds that you will
be able to persuade
HMRC that you are
not liable is slim.
There is, however, a
bright spot on the horizon.
Obviously
everyone’s circumstances
are different and you