heading back to uk/ renting house out

[lismith25]

Hi we have been here 6 years now, great house by the beach, but had a uk holiday last year and now deciding to head back for a while, 2 maybe 5 years?

We have 2 houses here and would have to rent them, not a good time to sell, has anyone else had experience with this and what the tax implications are?

[Guest paulacox]

Hi we have been here 6 years now, great house by the beach, but had a uk holiday last year and now deciding to head back for a while, 2 maybe 5 years?

We have 2 houses here and would have to rent them, not a good time to sell, has anyone else had experience with this and what the tax implications are?

Hi

 

Whereabouts are you?

 

Paula

[Guest treesea]

I'm not sure if it is a good time to sell in Australia (though it surely couldn't be worse than here) but it is a great time to be trasnferring Aussie dollars back into Strerling, because the Aussie dollar is really strong against sterling at the moment. Selling your principal home should be okay, but look out for capital gains tax when you sell the second home.

[lismith25]

Hi, we are in Airlie beach north qld, and its a great lifestyle, but im a bit over working in the heat after 6 years and need a change of climate, you can get too much of a good thing.

Im hoping going home for a couple of years will show us how good we have it here and get rid of our homesickness and give family a chance to catch up.

[lismith25]

Housing in oz is just recovering, prob same state as uk. Good time to buy but not good for selling, so will be looking to rent but not sure if that has to be declared in uk as an income?