> Hi, I just wondered if many (or any) people have emigrated to Oz but
> kept their house in the UK.
>
> Have you rented a home in Oz and rented your house out in the UK?
>
> Is it a sensible idea?
>
> Just rambling thoughts really but I don't want to "wish I had kept the
> house in England" argument to crop up a few months after we move.
>
> Cheers
>
> Jazzy
Hi Jazzy,
We are doing the same, as we don't know if we will stay.
*I believe* you should get the property valued before you leave because
if you do sell up in a few years you will be liable to pay capital gains
tax on any profit you make on the sale over the value it is at when you
start to rent it out.
I think you have some thing like a year to sell it after emmigrating
without incuring any CGT but it would be worth checking with an IFA.
Good Luck....we are still treading through the murky waters of Overseas
landlord scheme tax deductions etc...great fun!!
Matt
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