Let me first say I don't
Submitted by SirTK on Tue, 10/07/2014 - 12:54In reply to A newbie all over again! by Annec
Let me first say I don't really know, and you should seek current expert advice.As I understand it, any gains you have made worldwide are taxable in Italy. But your principal residence is exempt, so if the house you sold in UK was your principal residence at any time, any gains during that period should be exempt. In all likelihood, this will have been prior to your becoming resident in Italy.You should not be liable for any gains made before you became resident in Italy. It's possible therefore, that you will be due to pay tax on any gains made from the day you became a resident in Italy, up to the date of sale of the property. The amount of gain would be the difference in property value between those two dates. It would be up to you to get a formal market value for the date you became resident.Like I said, some indicators only - mainly because nobody else answered!TK
Thank you, your opinion seems
Submitted by AnaRom on Thu, 10/09/2014 - 08:26In reply to Let me first say I don't by SirTK