Originally Posted by Alan Collett

Remember also that the UK now (since 6th April 2015) has a CGT charge on non-UK resident individuals selling UK located residential real estate

Originally Posted by Alan Collett

Speaking as an accountant who is qualified in the UK and Australia (maybe the same one as has been approached by the OP) I'd exercise caution if talking to an Aus tax accountant who charges $120 for a tax return.

I have spoken to many individuals who have previously (before approaching us) instructed low cost accountants who are simply not across the issues of visa status, exempt periods for CGT purposes, and the forex aspects relating to a redeemed mortgage following the sale of a property.

Remember also that the UK now (since 6th April 2015) has a CGT charge on non-UK resident individuals selling UK located residential real estate => there is an online tax return to be lodged with HMRC too.

Best regards.

Originally Posted by Bermudashorts

I haven't suggested they should use a $120 Australian accountant, I agree they should use a decent one due to the complexity. OP said this was a November 2014 sale and that she has dealt with the UK side of things.

Originally Posted by astera

Interesting. So someone leaving the UK is better off selling before the move or is there a certain timeframe within which you can sell from abroad without CGT?

Originally Posted by Alan Collett

Noted, and agreed re the Nov 2014 disposal/UK aspects.

The OP was a temporary visaholder when first becoming a tax resident of Australia, which changes the reference point from which Aus CGT is computed.

There may then be exempt periods of ownership to apply to the capital gain (and forex aspects) computed for inclusion on the Australian CGT return.

Definitely not a $120 job - IMHO. Maybe there's a "1" missing in front of this? :-)

Best regards.

Originally Posted by FavouriteFlavia

You have hit the nail on the head, when I spoke to the $120 accountant he didn't seem to be aware of when the GST should be computed from, i.e. either when I first arrived in Aus on a 457 visa in Sept 2011 or when I became PR in July 2013. Wether the $420 accountant seem to be clear about that point. That to me was an indication that there might have been other factors that should have been taken into account for the purpose of the tax calculation. Your average Aus accountant, no disrespect, might not necessarily be aware of these factors.

Alan, any chance you could advise me someone who could contact to process my Aus tax return? That would be much appreciated.

Originally Posted by Alan Collett

Yes, we'll be delighted to help!

Please complete the enquiry form at this page, or send a PM/email to me with your name and phone number.

Tax Returns in Australia and the UK | GM Tax | Tax Planning Advice in Australia and the UK

Best regards.

Originally Posted by steveps

Hi,

if you need any help with UK mortgage, let me know. We have access to 25 UK lenders for expats, even if in Australia.

Originally Posted by Beoz

the tax won't exceed the profit.

Originally Posted by Stephen

I have seen to the contrary, with HMRS applying penalties, but they are of course penalties, not saying in this case.