Moving to Australia from the UK often means you have a continuing filing obligation to HMRC – for example, if you have a property in the UK that has been sold after you move to Australia.

The same requirement arises if you return to live in Australia after working overseas, and sold a property after you have returned to Australia.

With the introduction of the rules effective for disposals after 6 April 2015 you need to report the disposal on a NRCGT return (Non-residents Capital Gains Tax Return) and pay any CGT due if any within 30 days of the day after the date the property has exchanged contracts.

If you are already within the UK’s self-assessment (SA) system for income tax and CGT, you will need to report the disposal on a NRCGT return within 30 days with payment being made as part of your normal end of year tax payment (i.e. after completing your self assessment return) or you will also have the option to pay at the time of reporting.

  • All disposals must be reported to HMRC irrespective of whether there is a tax liability and regardless if the property qualifies for Primary Residence Relief.
  • The property can be valued retrospectively (i.e. by the estate agent upon sale) or by a professional valuer. A professional valuation will be the least challenged by HMRC.
  • Any tax suffered in the UK would be available to be offset on your Australian return up to the amount of Australian tax due.

UK tax returns have to be prepared and submitted within strict deadlines, otherwise late filing penalties will be charged by HM Revenue.

GM Tax offers the following services to individuals who are moving to Australia:

  • Tax planning advice, with regard had to your visa status in Australia if you are not an Australian citizen
  • Help with preparing UK and Australian Tax returns (including advice on tax deductions to reduce your tax liability), with all returns submitted to HM Revenue and the Australian Taxation Office electronically
  • Preparing UK NRCGT tax returns
  • Preparation of accounts for taxpayers who are operating their own businesses
  • Assistance to ensure income is properly taxed and not taxed twice. This includes guidance relating to non-UK residents receiving UK rental income, non-UK residents receiving pension income from the UK, and Tax File Number registration in Australia
  • Guidance on the use of superannuation in Australia as a means of securing improved after tax income, including the use of Self Managed Superannuation Funds

GM Tax provides a fixed fee quote whenever possible to all who are interested in engaging our services.

If you are moving to Australia or are already living in Australia – and would like a free no obligation fee proposal from a firm of tax advisors that understands the tax and financial issues affecting people arriving in Australia more than any other please complete the enquiry form on this page, or please telephone us on 08 9261 7762 (from outside Australia: +61 (0)8 9261 7762) or an office local to you.

We shall be delighted to have a free initial discussion with you, after which we can send a no obligation fixed fee proposal to you.