ezzie

Thinking of buying a cheap....well, as cheap as poss, investment property in the UK. Sydney prices used to be well above the UK, but of course that's all changed now, so really want to keep something there for that reason (determined to get back to UK at some point).

Has anyone any pointers and tips? Can you claim tax refund on Aussie earnings for cost of property upkeep in the UK? Any nasty surprises in store for UK buy to lets run from overseas?

What else should I know? And if anyone knows of a half-decent financial advisor and/or accountant in Sydney I'd love to hear about them as I've only been able to find complete bozos who I'd rather not entrust my few dollars to!

Or any websites...haven't been able to really track anything worthwhile down and estate agents don't return emails. Maybe they can't read and I need to phone them direct!

Swerv-o

I can give you the number of my accountant if you like. I haven't actually used him yet, but he comes very highly recommended by people I work with, so I am hoping that he is going to be worth the additional expense.

As for the first part of your question, I am thinking of doing exactly the same re. and investment property back in the UK - especially as it looks like prices are likely to decline over the coming months. Now may well be a good time to pick up a bargain back in the home country...

I will be interested to see more responses to this thread.

S

S

Santos

I've got three apartments in Manchester and am currently debating whether to keep them or sell and buy some rental properties in Australia when I go. Think there is a psychological element to it, if I held properties here I would not have cut all ties. Perhaps it would make it easier to come home if all wasn't going well, rather than taking the rough with the smooth.

It's a difficult decision.

ezzie

Santos, are you taxed on income here or somehow in the UK? How are you managing the letting? Do you own them outright or have a mortgage on any of them....you're just the person to know the sort of info I need. Personally, I'd hang onto them and let them sit there earning a little income, unless you need the funds to purchase something you want over here...a little McMansion perhaps!

ezzie

yes, please Swervo! would love your accountants name..

penky

Im planning on renting out , havent properly looked into it all yet so will be watching this thread with interest

Swerv-o

I will PM you.

S

gorgeousgal

We have a house in Sussex that we have let prior to us coming out to Aus in January. Also have flat's in London & Oxford that are let. Not sure about tax - will ask OH & let you know.

somme

If you are in Australia you are taxed on world wide income, less any tax you have been paid, then you have the problem of the 6 month window of opportunity re bringing money or pensions from the uk, you need to speak to a financial consultant.

Reedy

What are we both doing up at this unearthly hour I ask myself

Lau x

somme

Can't sleep

Reedy

Me neither Have to be up at 7am too - isn't looking good....

Lau x

somme

NIGHT

Reedy

Night to you too honey - sleep well, sweet dreams