Jox_co

Can anyone help!!!!!!!!!


Flying to Perth 31st May, house remains unsold, so now planning a buy to let mortgage and rental. What are the tax implications? Capital gains? Whats the best thing to do, anyone with any info please advise!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

hoofie2002

Why do you need a buy to let mortgage ? Just tell your existing mortgage provider that you are going abroad but renting it out until sale in the future. They may not adjust your mortgage rate at all or at least not for some months anyway.

I don't know the situation with capital gains. It comes down to whether it's still classified as your primary residence.

I would strongly suggest you rent it out through an agency or at least let someone you REALLY trust look after it. You will be a very long way away if maintenance needs done etc.

The best situation is to consult an accountant etc and find out the exact story and to minimise your tax liability. Ok, it will cost you to do it, but it will be 50 to a hundred quid very well spent.

billymacker

Why worry about uk tax when you sell you will nolonger be in the uk.