CGT on selling UK property and living in Spain

[dm1969]

Here’s a conundrum:

- bought UK property in 2006 for circa £300k
- it’s now valued at circa £600k
- mortgage practically paid off

I have rented it out for last 6 months as I am now based in Spain where I am renting.

I understand that if I sell the UK property and use the funds ( some of them) to invest in a property here in Spain ( to become my main residence) I would not be liable for CGT here in Spain.

Is my understanding correct?

 

[FWL]

Does it not depend on where you are domiciled for tax purposes? I would take advice although I am sure there will be people on the forum who have been in a similar situation.

 

[Longterminvestor]

Will Brexit muddy the waters a little for you? Take professional advice.