Guest millymandy

Returning to UK. Do we have to pay tax (or anything else?!) on money we take back?

    Recommended Posts

    Guest millymandy

    Hi all,

     

    We moved over here from UK 8 years ago and have now decided, after giving it a good try, to return home. I just wondered whether anyone knows about any tax etc that we would have to pay on anything we take back with us? We sold our house in UK a couple of years ago after renting it out for 6 years (and now regret that!!) and didn't put that money into our house here, so it has been gaining interest in our bank account here. When we take our money back, will we have to be taxed on it, although we do declare it (and are taxed on it) here? Also, would we be taxed on the profits from selling our house here too? It may seem like a silly question, but we really have no idea!!

     

    Thank you for any advice at all.

    Share this post


    Link to post
    Share on other sites

    Do you not have an accountant here ?? you should get taxed in Australia for any interest on savings but to the best of my knowledge nothing in the UK on it when you return they are two totally separate tax systems you don't pay tax twice on it hope that helps you only pay tax on interest and if its a residential property no you will not be taxed the only time that would happen is if it was a rental property and you sold it you would pay capital gains tax but obviously thats not the case with you. double check with your accountant but weve been back to the UK ourselves after 9 years and had no problems and we are back now, good luck with things

     

    Hi all,

     

    We moved over here from UK 8 years ago and have now decided, after giving it a good try, to return home. I just wondered whether anyone knows about any tax etc that we would have to pay on anything we take back with us? We sold our house in UK a couple of years ago after renting it out for 6 years (and now regret that!!) and didn't put that money into our house here, so it has been gaining interest in our bank account here. When we take our money back, will we have to be taxed on it, although we do declare it (and are taxed on it) here? Also, would we be taxed on the profits from selling our house here too? It may seem like a silly question, but we really have no idea!!

     

    Thank you for any advice at all.

    Share this post


    Link to post
    Share on other sites
    Guest millymandy

    Thanks for your advice - that's what I thought. Are you back over here again after UK?

    Share this post


    Link to post
    Share on other sites

    Yes we are back :)

     

    OTE=millymandy;298453]Thanks for your advice - that's what I thought. Are you back over here again after UK?

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now