Question: Can I transfer my property and move abroad without incurring tax penalties?
I wish to transfer my property where I have lived in for 47 years. After transfer I want to live abroad. The property value in the postcode area is £500,000 to £600,000. What are the tax implications?
Arthur Weller replies:
Answer: It appears that you have lived in your property as your main residence all the period of your ownership. If so, there will be no capital gains tax when you transfer it, whatever price you charge.