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Top relocation tips

Top relocation tips

Old Dec 1st 2016, 12:55 pm
  #46  
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Default Re: Top relocation tips

Originally Posted by Chesten
I worry about loneliness and not feeling assimilated if I don't work. Fingers crossed on that front.
I actually found that being a stay-at-home-mum meant I made more friends than my husband did.

Look for online groups for parents in the area you'll be moving to. I joined one in my small town, and another for southern Maine, and between the two I met lots of people with kids the same age as mine.

I also sent my children to a co-op nursery, which is a bit like a playgroup in the UK. Ours did mornings only and they kept the fees down by having parents volunteer to help during sessions and doing all the admin. I made lots of good friends through that too.

I also found that parents would strike up conversations at the playground, and I made friends that way.

And I made friends through my children's schools, through volunteering at their sports events, girl scouts, all the usual stuff.
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Old Dec 2nd 2016, 2:59 pm
  #47  
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Default Re: Top relocation tips

Originally Posted by kins
I actually found that being a stay-at-home-mum meant I made more friends than my husband did.
Originally Posted by Chesten
Re the visa, yes I do know I'm ineligible to work (ive seen the subsequent posts too). It worries me; I want to work. But prior to this job offer and pending relocation I was expecting to be on maternity leave til August so not working for a little while is fine. I understand green card applications will follow in a year so if I can maybe work while the application is being processed - great. I worry about loneliness and not feeling assimilated if I don't work.
I too am ineligible to work but have still found my time is filled. Initially you will be the one unpacking, arranging the new home etc. This takes longer than you think!

You will also be the one that finds the new family doctor, dentist, optician etc, where the shops that suit you are located and the like. Don't underestimate how long it takes to do the shopping in a new supermarket either. The layouts are different, the products are different (it took me ages to find a little box of marzipan last week!), the descriptions can be different: tomato sauce isn't tomato ketchup, cornstarch is cornflour......

My kids are older (14 & 16 when we moved just over 2 years ago) so I didn't have the school playground contact with other parents, but we have got to know some of the parents of their friends. I also joined a local quilting group and go bowling twice a week which gives me social contact and plenty of people to ask the what/where/how type questions.
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Old Dec 6th 2016, 5:11 pm
  #48  
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Default Re: Top relocation tips

Thanks for the two posts about not working. I can see the point about how much there is to do unpacking/ settling in etc and that's hopeful re friends via the kids or looking for local groups. Time to be proactive I reckon!

For now I've made enquiries with VW and Mazda re their lease schemes (no response yet) and am waiting for a new Am Ex card. And sorting through stuff at home: what to take, what to store; what to sell/ take to charity store and what to skip. That's going to keep me busy for ages!

I'll update when received response about visa and have better idea in dates.

Thanks everyone for all the input so far.
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Old Dec 7th 2016, 7:22 am
  #49  
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Default Re: Top relocation tips

Originally Posted by Chesten
Thanks for the two posts about not working. I can see the point about how much there is to do unpacking/ settling in etc and that's hopeful re friends via the kids or looking for local groups. Time to be proactive I reckon!

For now I've made enquiries with VW and Mazda re their lease schemes (no response yet) and am waiting for a new Am Ex card. And sorting through stuff at home: what to take, what to store; what to sell/ take to charity store and what to skip. That's going to keep me busy for ages!

I'll update when received response about visa and have better idea in dates.

Thanks everyone for all the input so far.
Good Luck. Your husband should ask his sponsoring employer if there is any vehicle supply/ assistance as part of his relocation package. if not it's always worth asking for something...!
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Old Dec 7th 2016, 7:39 am
  #50  
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Default Re: Top relocation tips

Originally Posted by angie_329
Good Luck. Your husband should ask his sponsoring employer if there is any vehicle supply/ assistance as part of his relocation package. if not it's always worth asking for something...!
Yes - it couldn't hurt
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Old Dec 7th 2016, 11:36 am
  #51  
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Default Re: Top relocation tips

Originally Posted by kins
I actually found that being a stay-at-home-mum meant I made more friends than my husband did.

Look for online groups for parents in the area you'll be moving to. I joined one in my small town, and another for southern Maine, and between the two I met lots of people with kids the same age as mine.

I also sent my children to a co-op nursery, which is a bit like a playgroup in the UK. Ours did mornings only and they kept the fees down by having parents volunteer to help during sessions and doing all the admin. I made lots of good friends through that too.

I also found that parents would strike up conversations at the playground, and I made friends that way.

And I made friends through my children's schools, through volunteering at their sports events, girl scouts, all the usual stuff.
My wife had same experience before she was working when we moved to Midwest, she had more social friends than I ever did through volunteering and day to day tasks, and a great time to perhaps study online whether for future work or, heaven forbid, just to learn about something one is interested in without any utility whatsoever !
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Old Dec 13th 2016, 5:17 am
  #52  
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Default Re: Top relocation tips

We will be renting in USA and renting out our UK home. Obvs this is sensible on the H1B. The rental income will leave us with a shortfall on the mortgage and we've factored that into our budgeting. But seeing another thread on tax implications, what tax implications should we be considering with this arrangement? If we are later sponsored for a GC, what then changes? Does it matter whether one owns in USA or not?

I had wanted the safety net of our UK home in case of not being happy in USA.

Sorry for rookie questions
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Old Dec 13th 2016, 11:42 am
  #53  
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Default Re: Top relocation tips

Originally Posted by Chesten
We will be renting in USA and renting out our UK home. Obvs this is sensible on the H1B. The rental income will leave us with a shortfall on the mortgage and we've factored that into our budgeting. But seeing another thread on tax implications, what tax implications should we be considering with this arrangement? If we are later sponsored for a GC, what then changes? Does it matter whether one owns in USA or not?

I had wanted the safety net of our UK home in case of not being happy in USA.

Sorry for rookie questions
You need to register in the UK as a non-resident landlord, so you don't get tax deducted by the letting agent (you are using an agent aren't you). You will need to file UK tax return declaring income (and expenses). You'll have the usual personal allowance(s).

You'll need to also declare that income to the IRS. also similar expenses and any UK tax paid.

If you sell your UK house within 3[*] years of arriving in the US, it's counted as selling your own residence -- and therefore not liable for CGT. Again, this is regardless of whether you own or rent a home in the USA at that time. If you sell after that time, you're liable for CGT calculated from the price you originally bought the house (less expenses), NOT the market value of the house at the time you left the UK.
[*] I believe this is correct, but I am not an accountant.
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Old Dec 13th 2016, 12:22 pm
  #54  
 
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Default Re: Top relocation tips

Originally Posted by Chesten
We will be renting in USA and renting out our UK home. Obvs this is sensible on the H1B. The rental income will leave us with a shortfall on the mortgage and we've factored that into our budgeting. But seeing another thread on tax implications, what tax implications should we be considering with this arrangement? If we are later sponsored for a GC, what then changes? Does it matter whether one owns in USA or not?

I had wanted the safety net of our UK home in case of not being happy in USA.

Sorry for rookie questions
Ubernathan's advice is good - you must sell within three years of the date you move out of your home to avoid US CGT assuming you lived in it for at least two years - the rule is usually expressed as "you must have lived in it for two of the last five years".

Owning property has zero relevance to the green card process. And having a green card has little relevance to taxes if you are already tax resident in the US on a work visa.

Further to what Ubernathan said, you should look into what is can be deducted on your US taxes to reach the profit/loss on renting you home in the UK - it is likely that you will have a tax loss which can, at least in part, be deducted from your US income. Deductible expenses include taxes, management fees, advertising, repairs & maintenance, cleaning, painting, insurance, mortgage interest, depreciation on the building (this is mandatory and is over 40 years, so 2.5%/yr on the value of the building - estimate, based on 80% of the price you paid, and this reduces the acquisition cost if you eventually need to pay CGT on the sale), and depreciation on appliances - straight line over five years. The bizarre result of this is you will wonder how anyone ever generates taxable profits from renting a house!

Last edited by Pulaski; Dec 13th 2016 at 12:31 pm.
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Old Dec 13th 2016, 5:22 pm
  #55  
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Default Re: Top relocation tips

Originally Posted by Pulaski
Ubernathan's advice is good - you must sell within three years of the date you move out of your home to avoid US CGT assuming you lived in it for at least two years - the rule is usually expressed as "you must have lived in it for two of the last five years".

Owning property has zero relevance to the green card process. And having a green card has little relevance to taxes if you are already tax resident in the US on a work visa.

Further to what Ubernathan said, you should look into what is can be deducted on your US taxes to reach the profit/loss on renting you home in the UK - it is likely that you will have a tax loss which can, at least in part, be deducted from your US income. Deductible expenses include taxes, management fees, advertising, repairs & maintenance, cleaning, painting, insurance, mortgage interest, depreciation on the building (this is mandatory and is over 40 years, so 2.5%/yr on the value of the building - estimate, based on 80% of the price you paid, and this reduces the acquisition cost if you eventually need to pay CGT on the sale), and depreciation on appliances - straight line over five years. The bizarre result of this is you will wonder how anyone ever generates taxable profits from renting a house!
Wont trip back to UK be partially deductible off US taxes ? If I recall the percentage that could be deducted on a business trip was number of days working ( not including weekend) divided by 5 week days time expense. So one day doing matters related to rental home would result in 20% of expenses being tax deductible (airfare, accommodation, transport). ( I am not CPA so worth checking).
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Old Dec 13th 2016, 6:16 pm
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Default Re: Top relocation tips

Originally Posted by morpeth
Wont trip back to UK be partially deductible off US taxes ? If I recall the percentage that could be deducted on a business trip was number of days working ( not including weekend) divided by 5 week days time expense. So one day doing matters related to rental home would result in 20% of expenses being tax deductible (airfare, accommodation, transport). ( I am not CPA so worth checking).
I have heard that might be the case (I believe it is), but personally I'd be very cautious about trying to write off part of my holiday in the UK against taxes. It might be within the rules, but I suspect would increase the chances of being audited.
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Old Dec 13th 2016, 10:46 pm
  #57  
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Default Re: Top relocation tips

My head hurts! But thanks for the steer. I guess this all gets clearer when dealing with actual forms and numbers. Well, I hope so!
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Old Dec 15th 2016, 6:56 am
  #58  
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Default Re: Top relocation tips

Originally Posted by ubernathan
You need to register in the UK as a non-resident landlord, so you don't get tax deducted by the letting agent (you are using an agent aren't you). You will need to file UK tax return declaring income (and expenses). You'll have the usual personal allowance(s).
Will be using a letting agent but not decided which to use yet. And had been made aware of the non resident landlord form. But thanks for pointing out and for the other info
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Old Dec 17th 2016, 8:02 pm
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Default Re: Top relocation tips

Just continuing a question from the earlier good advise given on CGT: Are there any allowances made for CGT if you sell your U.K. home before you have owned it two years, because you moved overseas? I seem to recall seeing something a while back, but can't find it now.
We bought a home in the UK in July 2015, not anticipating a move; have recently come to the US and have been offered a good price by someone wanting to buy in our area. I have worked out the mortgage loan tax due, because of the exchange rate drop, so we don't get a shock in our US taxes but can't seem to get a clear answer on CGT (US or U.K.). Thanks.
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Old Dec 19th 2016, 10:43 pm
  #60  
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Default Re: Top relocation tips

Not a question this time, more an update.

The H1B approval notice was received by ORNL and is being fed ex'do to us. Next step is the Embassy application and interview process and I'm not sure how long that will take, but slowly things are happening.

Hoping to get our house hunting trip booked soon...
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