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Hi there,

I would appreciate if someone could help me making more clarity on the below, please.

I am an Italian citizen who has lived in the UK since 1999. I am planning to move back to Italy and sell my property in the UK which I bought in 2006 and that has been my primary residence given that I have lived in it since I bought it.

The idea was to put the money from the sale into a few savings accounts in the UK, before moving the money to Italy once I will transfer my residency there.

Could someone tell me

1. If I need to pay capital gain in either of the two countries? As far as I am aware I don’t owe any capital gain to the UK, given that the property is my main residence, but I don’t know about Italy.
2. In which country do I need to declare the profit of the property and where would I need to do my tax return?
3. Can I keep my UK bank accounts open for a while, even as someone resident in Italy or I will have to close them? Should it not be possible to keep the bank accounts in the UK open, I am not sure how to organise the transfer of teh money into one or more  Italian bank accounts. Do I need to open a bank account for non residents?

I hope someone could answer my queries.

Thank you,

Gregg3391