What is ‘temporary non-residence for capital gains tax (CGT) purposes?
An individual can have ‘temporary non-residence’ status in the UK for CGT purposes. Those who leave the UK and subsequently return are broadly liable to CGT on gains arising during their absence on assets owned prior to their departure if they were UK resident for at least 4 out of the last 7 tax years, and their period of non-residence is less than 5 tax years. However, this rule does not normally apply to gains from assets acquired while temporarily non-resident, subject to certain anti-avoidance rules. • How does domicile status affect inheritance tax (IHT)? An individual who is domiciled in the UK is liable to IHT on chargeable property on a worldwide basis. A non-UK domiciled individual is also liable to IHT, but only on chargeable property in the UK. There is a separate rule regarding domicile, which applies for IHT purposes only. An individual can be deemed domiciled in the UK for IHT purposes if he or she was UK domiciled at any time in the 3 years immediately preceding the tim
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