# Cgt



## boz (Aug 4, 2013)

Anyone out there with experience of selling uk investment property whilst living in Italy?I have been out of the uk for over 5 years so am exempt from uk capital gains tax but am I liable for Italian capital gains tax when the uk property has sold?Due to the length of time I have owned the property there will be a substantial gain(the difference between the purchase price and sale price).The property is not a house I have ever lived in and has been let for 10 years.The cash from the sale will go to an offshore account in the Isle of Man.Do I declare it to my Italian accountant and will it be taxed?
I will be very grateful if any retired accountants living in Italy or anyone in the same boat could give me the answer before I consult my Italian tax adviser!


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