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Alan Collett

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Alan Collett last won the day on September 7

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About Alan Collett

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  • Birthday February 13

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  1. Alan Collett

    HMRC UK

    Update: I can see your completed enquiry form. I'll send an email to you now. Best regards.
  2. Alan Collett

    HMRC UK

    Feel able to ping an email to me at my bdhtax.com email address below. I have a phone number for HMRC for you to call - I've given this number to people in similar situations in the past. As a result of calling this number HMRC has closed the file and waived the late filing penalties. Best regards.
  3. Alan Collett

    Closing UK Company

    Maintaining the UK company involves compliance costs that might be avoided if you simply wind up the company. And paying a salary when Aus resident is likely to require the set up of a PAYG Withholding registration with the ATO and administration of an Australian payroll = more compliance costs. Dividends = yes, maybe. To give a full and considered answer one would need to know the sums of money involved. Which I appreciate you might not want to make known on a public forum such as this. Happy to have a freebie chat - feel able to send an email to me. Best regards.
  4. Yes, the Government could have retained the annual pre-Covid quota and granted visas to onshore CPV applicants, were they so minded. Best regards.
  5. Alan Collett

    International Tax Advice

    Feel able to ping an email to me, or complete the enquiry form at www.bdhtax.com Best regards.
  6. Alan Collett

    Capital Gains Tax on UK property due in Australia?

    While its possible to have a no gain/no loss disposal for a UK property sale when computed under Aus rules in my experience when running the numbers there's always a capital gain or loss due to the exchange rate movement: > Cost base = GBP value translated at the rate of exchange when you acquired the property > Sale proceeds = GBP proceeds (after deducting costs of sale), translated at the rate of exchange on the date of the disposal Best regards.
  7. Alan Collett

    Capital Gains Tax on UK property due in Australia?

    You include the capital gain or loss on your 2023 Aus tax return. Best regards.
  8. Alan Collett

    Capital Gains Tax on UK property due in Australia?

    https://www.gov.uk/guidance/capital-gains-tax-for-non-residents-uk-residential-property Suggest you might have a look at the UK compliance requirement to submit a CGT return with HMRC within 60 days of a sale completing - whether or not there's any CGT to pay to HMRC. Please feel able to ping an email or private message to me if you need any assistance with this. Best regards.
  9. Alan Collett

    Capital Gains Tax on UK property due in Australia?

    The UK CGT annual exemption is of no relevance to the amount of the capital gain that is to be included on your Australian tax return. A couple of questions (if I may): > You've lodged the required CGT form with HMRC in the UK? > You have a CGT computation prepared under Aus tax rules? Best regards.
  10. 77k applications for CPVs as at 31 July 2022 (I've done a Freedom of Information request of the Government and got details about 10 days ago). How many to be granted in years to come? 7k maybe (that's been the typical number in previous years) - or the new Immigration Minister might be responsive to overtures and pleadings from CPV applicants and their families in Australia by increasing the annual quota (10k? 20k?). I think 15 years is too pessimistic. 6 years is unrealistic given the present parent visa program settings. As to strategy - an onshore parent visa application maybe, if one of the parents is aged (as defined). Happy to have a freebie chat; feel able to contact me by email (see below). Best regards.
  11. Alan Collett

    House sale proceeds

    Maybe have a chat with one or two forex companies and get an account open so you can trade (sell GBPs and buy AUDs) when the exchange rate is where you'd like it to be? The private client area at these companies can keep a watch on the exchange rate and discuss expectations/set a target exchange rate for you. That's what I'd do! FWIW! Best regards.
  12. Alan Collett

    House sale proceeds

    I doubt that a relationship with HSBC will count for anything in Australia. At a personal level I've never had a major issue with Westpac - nor with CBA before that. Agreed though that the second tier banks can be worth a look - though these are owned by the big 4 these days. I perceive that most migrants are just looking for a transactional banking facility at first, which includes internet banking and a debit card attaching to the bank account. So to the OP: yes, try your existing bank, but I'd also explore one of the big 4 if you need a BSB ( = sort code) and an account number so you can transfer your funds to Australia from the UK. Best regards
  13. Alan Collett

    House sale proceeds

    Because Westpac is in Australia, has a significantly higher presence in Australia. and more relevant banking solutions for someone living in Australia than a bank in the UK? I've got a NatWest account in the UK and can operate an AUD denominated account with them - but I don't because it doesn't provide me with service offerings that are relevant to me as an Australian resident. Best regards.
  14. Alan Collett

    House sale proceeds

    Maybe have a chat with one or two of the specialist currency transfer firms - feel able to ping an email to me (see below) if you would like contact details. These firms usually have an entry into the banks in Australia. Unfortunately the big 4 Aus banks have now closed their operations in the UK; it used to be possible to open a bank account by speaking to someone in the right time zone before you departed for Australia. Maybe speak with Westpac? That's who I bank with and I've found them as good as any. Here are contact details where I believe you can open a bank account: Best regards.
  15. Why did you submit an Indian tax return please? For what visa subclass? Best regards.
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