Bettertax
I have dual citizenship (UK/US), I live and work in the UK. I am planning to move to the US, thus allowing me to claim a few tax benefits by filing a P85 form. However, there are 2 CGT tax issues as I own a London property, which is currently my PPR and therefore exempt from the 18% CGT when I come to sell it in 5-10 years and also a string of investments in various funds.
As you can probably tell, in my mind, I am trying to compromise between having to pay for CGT on my residence or CGT on my investments on the assumption that HMRC will have a problem with my claiming tax free on both things if I move abroad?! Can I have the cake and eat it? Or will I be liable for CGT somewhere either way? As in would I be foregoing my PPR privilages if I file a P85? and does a P85 actually help me claim tax free returns on my investments? Also, being abroad with these investments in the UK would I need to file some sort of annual tax return?