Buying a house in Scotland
Oct 13th 2009, 9:37 am
#1
Just Joined
Thread Starter
Joined: Nov 2004
Posts: 3
Buying a house in Scotland
Hello everyone.
I was hoping for some advice.
I am a British & Australian Citizen who is resident in Australia. I would like to purchase a house in Scotland, soley for investment purposes.
Am I able to do this? Are there any issues that I need to address or would the purchase be the same as if I was living in the UK? What Tax implecations would I have both in the UK and OZ? Is there a company that deals with this type of purchase?
I hope to hear from you all soon.
thanks
Craig
I was hoping for some advice.
I am a British & Australian Citizen who is resident in Australia. I would like to purchase a house in Scotland, soley for investment purposes.
Am I able to do this? Are there any issues that I need to address or would the purchase be the same as if I was living in the UK? What Tax implecations would I have both in the UK and OZ? Is there a company that deals with this type of purchase?
I hope to hear from you all soon.
thanks
Craig
Oct 13th 2009, 2:02 pm
#2
Banned
Joined: May 2009
Location: Thailand
Posts: 49
Re: Buying a house in Scotland
If you are resident in Oz, the ATO would want to know all about it and would expect you to disclose all the details on your tax return.
I think the inland revenue would leave you alone as you are not resident for tax purposes, but this is definately an area you should study closely and become comfortable with.
I think the inland revenue would leave you alone as you are not resident for tax purposes, but this is definately an area you should study closely and become comfortable with.
Oct 13th 2009, 2:13 pm
#3
BE Enthusiast
Joined: Jul 2005
Posts: 430
Re: Buying a house in Scotland
Hi Craig
We have a few investment properties in Scotland (1 in Aberdeen and 2 in Fife) that we rent out, we are currently resident in Australia awaiting a citizenship ceremony and also UK citizens. 2 of these properties were bought while overseas. We fill in the UK tax return as any income generated in the UK is assessable for tax - I have found it to be very straightforward - just keep all receipts. From what I can remember you get the normal allowances and can offset mortgage interest, management fees etc. You will get 10% off the council tax charge for the property.
There is also a national landlord's registration system that you apply for online.
Once the initial paperwork is done everything seems to go pretty well, we manage them ourselves from here in Australia. I use email and a Skype Online Number (Edinburgh) so that tenants can contact me easily between the hours of 2am-2pm GMT.
Not sure of the tax implications here in Oz as OH's company pays his tax for him.
We have a few investment properties in Scotland (1 in Aberdeen and 2 in Fife) that we rent out, we are currently resident in Australia awaiting a citizenship ceremony and also UK citizens. 2 of these properties were bought while overseas. We fill in the UK tax return as any income generated in the UK is assessable for tax - I have found it to be very straightforward - just keep all receipts. From what I can remember you get the normal allowances and can offset mortgage interest, management fees etc. You will get 10% off the council tax charge for the property.
There is also a national landlord's registration system that you apply for online.
Once the initial paperwork is done everything seems to go pretty well, we manage them ourselves from here in Australia. I use email and a Skype Online Number (Edinburgh) so that tenants can contact me easily between the hours of 2am-2pm GMT.
Not sure of the tax implications here in Oz as OH's company pays his tax for him.
Oct 13th 2009, 6:10 pm
#4
Forum Regular
Joined: Feb 2008
Location: Renfrewshire Scotland
Posts: 163
Re: Buying a house in Scotland
Hello everyone.
I was hoping for some advice.
I am a British & Australian Citizen who is resident in Australia. I would like to purchase a house in Scotland, soley for investment purposes.
Am I able to do this? Are there any issues that I need to address or would the purchase be the same as if I was living in the UK? What Tax implecations would I have both in the UK and OZ? Is there a company that deals with this type of purchase?
I hope to hear from you all soon.
thanks
Craig
I was hoping for some advice.
I am a British & Australian Citizen who is resident in Australia. I would like to purchase a house in Scotland, soley for investment purposes.
Am I able to do this? Are there any issues that I need to address or would the purchase be the same as if I was living in the UK? What Tax implecations would I have both in the UK and OZ? Is there a company that deals with this type of purchase?
I hope to hear from you all soon.
thanks
Craig
Fancy that?
Turns out that i'm selling. See below.
http://www.rightmove.co.uk/property-...l%3Findex%3D10
Cheers.
Oct 13th 2009, 6:24 pm
#5
Forum Regular
Joined: Jul 2008
Location: Harrisdale, WA
Posts: 124
Re: Buying a house in Scotland
My house sale has just fallen through today so we are back on the market!!
http://www.espc.co.uk/Buying/280077.html
http://www.espc.co.uk/Buying/280077.html
Oct 13th 2009, 7:01 pm
#6
Forum Regular
Joined: Sep 2008
Location: McLaren Vale SA
Posts: 88
Re: Buying a house in Scotland
