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le petit roi

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le petit roi last won the day on August 24 2013

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About le petit roi

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  1. le petit roi

    Renting my uk house, pretty urgent

    I obtained UK landlord insurance through a broker....too easy. I've used him for several years now and each year he searches out competitive quotes for my consideration.
  2. le petit roi

    Renting my uk house, pretty urgent

    The UK property is treated as though its located in Australia so ensure you keep ALL receipts for expenses you incur e.g. maintenance, agent fees, building insurance, grass cutting etc. I'm assuming you need the internet to manage the investment hence you will be able to deduct a portion (dependant upon usage) of your internet fees, office equipment, etc. I generally work out the income/expenses each month and if there is a net profit (in GBP) at the end of the financial year, I use the average GBP:AUD conversion rate during the financial year. It's probably worth going and discussing it with a tax agent with foreign income experience particularly for the first time. If you do sufficient overtime to take you to $83000, with the additional investment income included, I'd do the sums to decide if salary sacrificing Super payments would be beneficial in order to reduce your assessable taxable income. This would not only reduce your immediate tax bill but provide an uplift to your Super in the long-term. Not tax advice but something else to consider and investigate because these matters can vary dependant upon age and personal circumstances.
  3. This topic encouraged me to do a bit of a search and I found this on the HMRC that allows non-residents to calculate their CGT liabilities. Still best to consult a UK tax agent but should give some guidance. https://www.tax.service.gov.uk/calculate-your-capital-gains/non-resident/ Note: Residents in Scotland have to apply different tax rates.
  4. le petit roi

    Pensions in UK

    I originally intended to leave mine in the UK but I'm 55 next year and this has me thinking...is there any value in transferring over to Oz my 'Pension pot' in the UK currently held with Aviva? Cheers
  5. le petit roi


    I had a similar indifferent experience of using them the once and only time and don't intend to ever to do so again. They also made a demand for their invoice to be paid even although the document had been passed back and forth a few times and no agreement on the final submission had yet been reached.
  6. le petit roi

    Transfer Super from QROPS compliant account

    Much appreciated for those responses. I privately thought that it wouldn't be possible but had to ask.
  7. Reading the info, I can only transfer a UK pension into a QROPS compliant account here in Oz. Once in the Oz account, is there any regulation that prevents me transferring it into any Australian Super account e.g. I open an Oz QROPS account, I transfer my pension from the UK into it, it stays there for 2 weeks then I transfer it into my 'regular' Super to consolidate all my Super into one policy. Cheers
  8. I am an exisiting savings account holder of several years with Ubank so aware of their mortgages. Ubank appears to be a good, simple and straightforward mortgage product but may or may not be the best for my particular set of circumstances.
  9. Does anyone have a recommendation for an independent Melbourne based mortgage broker? CBD or northern suburbs probably preferred but getting quality is more important so willing to travel further afield. Thanks
  10. le petit roi

    Remortgaging UK Property whilst in Auz?

    I was able to re-mortgage my unmortgaged UK property to release equity around the 2007/08 period. I paid it back as my plans changed but was never permitted to repeat that feat again when I tried in 2014. Looking at all the T&C for mortgages, they all specify they are for UK residents only. For suggestions, try going through a mortgage broker or you could try an approach to an international branch of a UK bank based in say the channel islands.
  11. le petit roi


    I should have made it clearer that attaining the HMRC Gateway account and accessing the relevant area will provide you a pro-rata pension figure after entering the required data which is all very basic stuff about you. My computer is broken and don't currently have access to more info on this. If I get my replacement laptop in the next few days, I'll try and post more detailed info I have on the old hard drive. For anyone who hasn't been on it before, HMRC website is fairly helpful but its a minefield sometimes to find the right info. I've got a UK property and spent too many late nights investigating HMRC related stuff.
  12. le petit roi


    A bit late to the party but better late than never. I've paid Class 2 contributions every couple of years so now have around 30 years when added to the time I was in the UK. Currently it costs just under £200 per year. The number of years needed to contribute is dependent upon a few factors (age is just one) and not necessarily 30 years. I'm 5 years short, the number of years I need to get the full UK pension is 35. I think it best to obtain a HMRC Gateway account and that will give you access to info without needing to call a helpdesk and also calculate your potential final UK pension and the number of years contributions still required to attain that final figure.
  13. le petit roi

    Releasing equity in UK to buy in Australia?

    I've been to 4 auctions in recent weeks and my anecdotal evidence is that our old friend the 'vendor bid' is bidding harder than the attending crowds. 1 sold as a genuine auction result, 3 were passed in after 20 minutes of the auctioneer talking to himself before receiving solo bids. These properties appeared as 'sold at auction' in the newspaper which is misleading because it can only be as a result of post-auction negotiation not the auction itself. Caveat emptor, 'Sold at auction' comes in many guises.
  14. le petit roi

    UK Personal Pensions central agency??

    Resurrected this - I was back in the UK in Feb/Mar 2017 and did a bit more calling around. Turns out that one of my pensions currently has circa $40k in it which is substantially more than I ever thought. Another one wasn't quite so good...circa $600 but to redeem it into the other pension has a value of circa $200. Robbing thieves!! I've changed my contact address to my mothers in the UK so at least if I move around, I'll keep contact of where all my UK pensions are. One final few questions on this topic if anyone can help me with an answer: 1) As an Australian resident, am I permitted to contribute to the $40k pension? 2) What can I do to reduce the fees which will be likely charged by the Pension fund? Cheers
  15. le petit roi

    Depreciation report for a UK property

    No arguments from me on that. I could give it a stab and until this year, with my relatively simple tax affairs, I did using MyGov. The rental and shares slightly complicates it for this year and additionally, the property had to undergo various work prior to letting to be compliant with Government housing laws which don't necessarily apply to houses within Australia. I'm in Melbourne so not sure how practical it would be but could you pm me your phone number?