Selling up, go to Isle of Man and pay less capital gains
Tax Planning and Financial

Fazzi
Fazzi
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13 Posts
3 years ago
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I contemplate becoming UK non-resident for five whole tax years by moving to the Isle of Man. I have a property portfolio of 14 residentials to sell in coming years, with potential high capital gains tax liability. I have read the short text by Nick Braun 'Isle of Man tax saving guide' and the 'HMRC guidance note on the Statutory Residence Test' dated August 2016. My questions: (i) has anyone else done this, and happy to share some tips and experiences? (ii) I know I have to be non-resident for five years; do I have to stay non-resident for five years after the sale of my last property? I guess not? and (iii) can NRLA ask a tax advisor to write and article in the magazine.

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