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Topic: Private Residence Relief on a USA home?  (Read 226 times)

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Private Residence Relief on a USA home?
« on: May 16, 2018, 12:17:37 AM »

I know that HMRC does not charge capital gains on the sale of your primary residence because of the Private Residence Relief exemption.

I am in the USA now and plan to be for the entire 2018/19 tax year.  If I stay here working at the job I am at then I pass the automatic overseas Statutory Residence Test and wont need to file a return for 2018/19 and pay tax on my US income.

I will be selling my share of an inherited house to my sibling this year.  I understand I will pay USA capital gains as I have not lived there 2 years.

My question is - IF do go back to the UK in say January...will I need to report the capital gains and if so would I be able to claim PRR as it was my residence from April - Jan?

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