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Guest oscars mum

Rental Property in U.K./ Capital Gains Tax

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Guest oscars mum

Don't know if anyone could advise on this but here goes!!!!

Once I am resident in oz, am I still subject to capital gains tax in the U.K.??

We have 2 rental properties, both with a mortgage, and a piece of land.Our accountant is pretty much useless and first chance we get he's going!!:arghh:

We dont't need to sell before we go, but dont like the idea of giving the damn taxman any more than we have to.

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I'm no expert but my experience is that once your are tax resident in Australia then you will pay Australian and not UK CGT on offshore shares/property/interest etc.

I guess this is the jist of your question and you weren't expecting not to pay any tax at all right?

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Guest oscars mum

Don't mind the paying of the tax, it's just the amount that we would have to pay!!

If its going to be less in oz, then it may be better to hang on to them for a while

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Please - take professional advice if the tax at stake is significant (it doesn't have to be from me either!).

 

You may find a suitably timed disposal saves large amounts of tax (to the point where you pay none in either the UK or Australia).

 

Best regards.


Managing Director, Go Matilda Visas - www.gomatilda.com

Registered Migration Agent Number 0102534; Registered Tax Agent (Australia)

Chartered Accountant (UK, and Australia)

T - 023 81 66 11 55 (UK) or 03 9935 2929 (Australia)

E - alan.collett@gomatilda.com and acollett@bdhtax.com

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Guest oscars mum

Alan, have sent you a pm

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I have it - many thanks.

 

Best regards.

 

 

 

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Alan, have sent you a pm

Managing Director, Go Matilda Visas - www.gomatilda.com

Registered Migration Agent Number 0102534; Registered Tax Agent (Australia)

Chartered Accountant (UK, and Australia)

T - 023 81 66 11 55 (UK) or 03 9935 2929 (Australia)

E - alan.collett@gomatilda.com and acollett@bdhtax.com

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Guest paulandilya
Don't know if anyone could advise on this but here goes!!!!

Once I am resident in oz, am I still subject to capital gains tax in the U.K.??

We have 2 rental properties, both with a mortgage, and a piece of land.Our accountant is pretty much useless and first chance we get he's going!!:arghh:

We dont't need to sell before we go, but dont like the idea of giving the damn taxman any more than we have to.

 

Hi there, we have exactly the same problem and are looking into this too. As soon as we have some info we will pass it onto you. Maybe you could do the same if you find out anything first. We wil ask thew advice of our agent this week, and our accountant sems to know something about it. Thanks Paul and Ilya:jiggy:

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Remember you need to look at the tax position from two perspectives: the UK and Australia.

 

Make sure any advice you receive (on which you rely) factors in both.

 

See also: Collett & Co

 

Best regards.


Managing Director, Go Matilda Visas - www.gomatilda.com

Registered Migration Agent Number 0102534; Registered Tax Agent (Australia)

Chartered Accountant (UK, and Australia)

T - 023 81 66 11 55 (UK) or 03 9935 2929 (Australia)

E - alan.collett@gomatilda.com and acollett@bdhtax.com

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