andromeda9 Posted August 31, 2015 Share Posted August 31, 2015 any answers to help out there? due to health not good,feel hesitent on going back to the uk for a while we have a house, a rental property we wish to sell in the UK, we have an interesed buyer is it possible to do the deal of the sale when myself a permanent resident in OZ, and the potential buyer living in the UK deal done via solicitors cheers any advise would be great :unsure: Quote Link to comment Share on other sites More sharing options...
Peachy Posted August 31, 2015 Share Posted August 31, 2015 Yep should be fine - intend to sell mine without going back to UK. May cost quite a bit couriering the important docs but will be much cheaper and easier than a flight back. Any decent solicitor should be able to sort it out for you. Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted August 31, 2015 Author Share Posted August 31, 2015 Cheers thank you for your fast reply. :wink: Quote Link to comment Share on other sites More sharing options...
Guest guest30085 Posted August 31, 2015 Share Posted August 31, 2015 Hi Andromeda I sold my house whilst in Oz, in fact the offer came the day I flew out! I arranged everything via email, although admittedly my selling agent is attached to a solicitors practice so it made it easier. I only had to courier one document as it had to be an original. All fairly straightforward, good luck with the sale :-) Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted August 31, 2015 Author Share Posted August 31, 2015 Unreal been working up to sorting my return visa as last one run out Great news. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted August 31, 2015 Share Posted August 31, 2015 I recommend also discussing executing a General Power of Attorney with your solicitor in the UK so s/he can sign documents on your behalf while you are in Australia. Best regards. Quote Link to comment Share on other sites More sharing options...
Peachy Posted August 31, 2015 Share Posted August 31, 2015 I recommend also discussing executing a General Power of Attorney with your solicitor in the UK so s/he can sign documents on your behalf while you are in Australia. Best regards. Andromeda9, making a power of attorney is a very good idea and very easy to organise without a solicitor. This website: https://www.gov.uk/government/collections/lasting-power-of-attorney-forms explains everything very well. Fee is £110 from recollection to register your P of A, but you don't need a solicitor involved unless your situation is complicated. Takes a while to put into place. Again, from recollection, I think ours took about 10 weeks to complete and register. Quote Link to comment Share on other sites More sharing options...
Peachy Posted August 31, 2015 Share Posted August 31, 2015 Oops misread your post Alan - I see that it was your intention that the solicitor is the P of A. My only concern with this would be that they charge for drawing the doc and then signing. On the other hand, at least you have someone wholly reliable (in principle) to sign on your behalf. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted August 31, 2015 Share Posted August 31, 2015 Oops misread your post Alan - I see that it was your intention that the solicitor is the P of A. My only concern with this would be that they charge for drawing the doc and then signing. On the other hand, at least you have someone wholly reliable (in principle) to sign on your behalf. With a solicitor usually involved with the conveyancing process I anticipate it will expedite matters to have the same person involved if a PoA is executed in his/her favour. Agreed there will be a fee to pay - but hopefully not too much given the time required to finalise documents should be reduced. Best regards. Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted August 31, 2015 Author Share Posted August 31, 2015 Good advise thanks Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted August 31, 2015 Author Share Posted August 31, 2015 Thank you for top advise Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted September 1, 2015 Author Share Posted September 1, 2015 just waiting on a reply from my UK solicitor that i used to purchase the property, still with the company I used over 20 years ago, rocking now :jiggy: Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted September 1, 2015 Author Share Posted September 1, 2015 no need to fly over now,what a relief that is Quote Link to comment Share on other sites More sharing options...
Bungo Posted September 1, 2015 Share Posted September 1, 2015 I sold a house whilst living overseas and a few years later I bought another one whilst living overseas. I didn't want to give anyone PoA over my affairs and it was no problem at all, I just couriered documents around. Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted September 1, 2015 Author Share Posted September 1, 2015 Was just this minute listening to my husband say he wasn't happy at anyone acting as POA ,had agents that went into liquidation with several thousand pounds from our rental income, loose faith with anyone, he was so charming,should really be a lesson learnt,bare in mind what you have advised. Thanks Quote Link to comment Share on other sites More sharing options...
Bungo Posted September 1, 2015 Share Posted September 1, 2015 Was just this minute listening to my husband say he wasn't happy at anyone acting as POA ,had agents that went into liquidation with several thousand pounds from our rental income, loose faith with anyone, he was so charming,should really be a lesson learnt,bare in mind what you have advised. Thanks Well I think if you not happy then don't do it. There is absolutely no need for PoA. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted September 1, 2015 Share Posted September 1, 2015 Yes - absolutely. In any event I wasn't suggesting giving a PoA to the estate agent (or whoever was managing the rental income). Rather, I was proposing that you consider asking your solicitor to be appointed in this capacity. Best regards. Quote Link to comment Share on other sites More sharing options...
Alaska Posted September 1, 2015 Share Posted September 1, 2015 We sold two properties last year after receiving our PR. It was very straightforward. We didn't do anything regarding PoA (in fact I only just heard about it on this thread!) and didn't have any issues at all. Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted September 1, 2015 Share Posted September 1, 2015 How did you cope with the calculation of capital gains? Quote Link to comment Share on other sites More sharing options...
Alaska Posted September 1, 2015 Share Posted September 1, 2015 How did you cope with the calculation of capital gains? That is currently being sorted out by Alan's company GMTax :notworthy: Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted September 1, 2015 Author Share Posted September 1, 2015 Would I be correct in thinking that the capital gain is from the profit of the property from when you left the UK as long as you have been a permanent resident in Australia for five years plus not from the original buying price Quote Link to comment Share on other sites More sharing options...
Alaska Posted September 1, 2015 Share Posted September 1, 2015 Would I be correct in thinking that the capital gain is from the profit of the property from when you left the UK as long as you have been a permanent resident in Australia for five years plus not from the original buying price I am not sure if this question was aimed at me? If so, I'm really not sure. We got our PR last year and sold our properties soon afterwards. It is all a bit complicated as one we bought to renovate and sell and went into negative equity, the other we lived in until we left in 2009. I have always done our taxes ourselves even living here and renting out in the UK, but this was a step too far for me, hence employing GMTax for this one. Alan especially has always been really helpful with advice on here so I figured we would be in good hands. Quote Link to comment Share on other sites More sharing options...
andromeda9 Posted September 1, 2015 Author Share Posted September 1, 2015 Sorry Alaska was not meant to be aimed at anyone personally, just lands in the wrong place, thanks for your response Quote Link to comment Share on other sites More sharing options...
paisleylass Posted September 3, 2015 Share Posted September 3, 2015 We are nearing the end of this process, due to complete in a week! It has not been as straightforward as we hoped - we gave my mother in law POA before we left, same solicitor as the one handling the conveyancing, but no one can find any trace of this being executed. I have the receipt and hope to have this refunded, as we had to take a day out of our USA holiday and courier the disposition document which cost about $100 AU grrr, and today have to fork out more to have ID certified. Other issues include tenants having prepayment meters installed and debiting crazy amounts, so they keep cutting off electricity and gas!! Nice to be paying the tenants' debts off :-( at least the buyers can get these meters removed, we couldn't as we have no recent UK credit history. Can't wait to get rid!! Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted September 3, 2015 Share Posted September 3, 2015 http://www.gmtax.com.au/uk-capital-gains-tax-on-residential-property-sold-by-non-resident-individuals-reporting-to-hmrc/ Don't forget the obligation to report the disposal to HMRC within 30 days - a new requirement from the 6th of April 2015 where non resident individuals dispose of residential property in the UK. Best regards. Quote Link to comment Share on other sites More sharing options...
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