MTut

Did my medical yesterday. Had to cough a few times but it was pretty straight forward. Only put in my application in the first week of January but don't see the point in leaving it until asked. Hoping to leave in November which I'm sure will be fine.

So just to give an example: You bought the shares for £10k and they're now worth £30k. You sell half this year, half next and return £15k each time - of which £10k is your gain. So in neither Year would you go above the Uk cgt allowance.

Your CG threshold is only the gain you make, so you could probably take out much more than £22,200 across the two tax years.

There's a few recognised schemes you can but i'd seek professional advice whether it's suitable. Personally, I'm planning on leaving my UK pensions where they are when I move over to Aus as I'm 20+ years until needing them and so much could change to pension taxation before then. Obviously the closer you are to drawing benefits, the easier it is to make the decision on which is the best country to have them.

I'm inclined to agree with you. The Consent to let sting by lenders is awful.

Nice!

That's nice and tidy. Interesting take home differential when switching between Resident and Non-Resident. I'm likely to land November time on a Partner Visa (Temp initially.) Does that eman i'll get a higher tax still for the first half a tax year I'm there?

If you've been away for some time then you might have to build up a bit of a credit history to improve your application. It's probably best for you to go through an experienced broker, as mortgage companies first layer of decision making is normally automated but a broker should be able to get them to look at your case based on circumstances; ie incomes, deposits etc. through a person rather than a computer!

Thanks Andy. I guess the difference there is that each fund you sold on an Australian platform would be, in effect classed as it's own individual investment - which is the same as here for platform investment outside of a stocks and shares ISA. So that logic would then apply if they basically ignored the ISA wrapper and just looked at where it was invested. So if you hold 5 funds witihn your ISA, it's treated as 5 seperate investments rather than one large investment. If that's the case I'll probably just move my individual fund either into one multiasset / Multimanager strategy or offset them against the mortgage for simplicity. I guess they're happy with switches in a UK pension being tax free still though aren't they?

Most UK companies are fine with it as long as you pay from a UK bank account but some firms do have questions in their apps about whether you intend to live abroad in the next 12 months. So if you are thinking of getting some set up in the UK, prior to a move, i'd recommend setting it up before you apply for visas etc. (Plus it's a good point to raise on the Partner visa about combining your financial affairs, if you have joint life assurance.)

Havings done a fair bit of reading up, it seems our Aussie Tax friends would want to know about gains or income from ISAs in the UK to add to my 'worldwide income' from when I start paying tax in Oz. My ISA portfolio here is held on a platform and has several funds within. My question is, would the Australian Tax office want a slice of any gain when switching between funds within the wrapper? Or are they only interested in the gain when the ISA is actually fully or partly encashed?

Sent in my application last week, uploaded all the documents and have started the ball rolling for a medical but might now defer that by a month or two based on the time it seems to take to even get a case officer. I would hope my case is straight forward. Wife is an Aussie, we've been married nearly a year but only known each other just over 2.5 years. Hoping to move at the end of October so that should be time enough to get things sorted. Does make it very hard to get motivated for the new year at work though!

Cheers guys. Yes, that ties up with some other bits I'd read. If the Aus taxation guys are only going to take an interest from the point that I land for good in Australia, it takes off a fair bit of pressure to get it done before I go. (Although it's obviously a bit of a pain to do paperwork from abroad.) As you say Ken, I'm likely to have lower earnings either way next tax year as I don't expect to have a job lined up before I go. So with a bit of planning like offsetting some UK income with a pension contribution and such I can probably keep things relatively under control. Thanks all.

Hi, I'm planning to move to Aus with on a Partner Visa (I'm married to an Aussie) in approximately 12 months time. I have a Rental property here that I'm planning to sell before I go, so just looking at time frames and how best to do it from a tax perspective. There'll be a decent amount of capital gains tax to pay. To keep things simple, i think it'd be best to sell it before UK tax year end in April. However, these things are not likely to be simple! If it were to sell in May or June, how would that fit with having to report it on an Australian income tax return as obviously their year doesn't start until July? Or would they take an interest in it, as it would be on my UK 2016-17 return and par tof my worldwide income? I've not lived in the place in the last 6 years so no PPR opportunities. I'd feel a lot more confident with reducing the tax if left to just using UK rules!

Thanks Ken. I'd be on a Partner Visa via my Wife, which I think would start as a Temporary, then we'd apply for a Permanent Visa after a couple of years. The move would be with the intention of a long term stay. The 'travelling' part was really just about maybe not working when I get there for a couple of months to go round and see the sights - and therefore keep my income under the HRT threshold. We were planning on keeping our main residence in the UK on as a rental (and a fall back if we decided after a couple of years we preferred the UK.)

Hi, I wondered if any of you had experience of the below. I'm English and planning to move to Oz with my Australian wife in the next year or two. I'm a higher rate tax payer (just, earning circa 50k p/a) and have a rental property - my Dad's old house that I inheirited. Whilst running it while living nearby is fine, I had considered selling it at some point soon and am keen to try and mitigate the the capital gains. So, let's say if I sold it, I would make a capital gain (after annual cgt allowance) of £100,000. As a higher rate tax payer, I'd be liable to 28% CGT. However, if I moved 3/4's of the way through the tax year, then maybe spent a couple of months travelling a bit before working in Oz, I could keep my earnings under £43k for the year and only be taxed at basic rate CGT of 18%, saving me £10,000 in taxes. My concerns would be: 1) Would I have to keep my UK AND Oz earnings for the tax year under £43k to benefit from this deduction and be classed as a basic rate tax payer? 2) Would Oz look at my sale as earned overseas income and try and tax me on it? Hope that makes sense, I'm a Financial Adviser in the UK and am going to take my Oz qualifications but not far enough into it to answer my own question! Obviously if I can take some time of and save £10k, I'm all in favour!