Moved to Oz but kept house in the UK
Apr 9th 2006, 8:35 am
#16
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Re: Moved to Oz but kept house in the UK
Originally Posted by lollyno1
dont intend coming back for two years at least...just visits, if i can afford them...i know it will be tough... :scared:
an of course ill miss everything that seaton has to offer...but will miss redcar more...oh those views of the works..they're to die for...greasy chips, dirty beaches...starting to think why im going...
an of course ill miss everything that seaton has to offer...but will miss redcar more...oh those views of the works..they're to die for...greasy chips, dirty beaches...starting to think why im going...
The trouble is I think my missus might look at it the other way round and think "aahhh I don't half miss those grimey back streets and terraced houses"
Jazzy
Apr 9th 2006, 8:45 am
#17
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Re: Moved to Oz but kept house in the UK
Originally Posted by jazzys
Hi, I just wondered if many (or any) people have emigrated to Oz but kept their house in the UK.
Have you rented a home in Oz and rented your house out in the UK?
Is it a sensible idea?
Just rambling thoughts really but I don't want to "wish I had kept the house in England" argument to crop up a few months after we move.
Cheers
Jazzy
Have you rented a home in Oz and rented your house out in the UK?
Is it a sensible idea?
Just rambling thoughts really but I don't want to "wish I had kept the house in England" argument to crop up a few months after we move.
Cheers
Jazzy
wishi'd done it. infact with all of them
Apr 9th 2006, 8:49 am
#18
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Re: Moved to Oz but kept house in the UK
Originally Posted by goldcoastblue
personally you done the right thing, kept your house on.....
wishi'd done it. infact with all of them
wishi'd done it. infact with all of them
Trouble is how do I get a house in Oz if I don't have any cash from selling the house I have in the UK?
Jazzy
Apr 9th 2006, 8:52 am
#19
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Re: Moved to Oz but kept house in the UK
We kept the house in the UK. We're not planning on selling it until we retire, then using the money as our pension. It also gives a nice fall back position if everything does screw up here. NOT that we're planning on using it! But we're lucky enough to be young enough and not have the kids that means we can start again on the property ladder here.
Middlesbrough to Oz via Crawley for me. I love Oz to bits, but if I ever go back to the UK, it won't be to Crawley. Middlesbrough would come close to a good choice though - if only for the Boro. I nearly splashed out $25 on a fake boro top today. Pretty good quality too!
Middlesbrough to Oz via Crawley for me. I love Oz to bits, but if I ever go back to the UK, it won't be to Crawley. Middlesbrough would come close to a good choice though - if only for the Boro. I nearly splashed out $25 on a fake boro top today. Pretty good quality too!
Apr 9th 2006, 9:00 am
#20
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Re: Moved to Oz but kept house in the UK
Originally Posted by thribble
We kept the house in the UK. We're not planning on selling it until we retire, then using the money as our pension. It also gives a nice fall back position if everything does screw up here. NOT that we're planning on using it! But we're lucky enough to be young enough and not have the kids that means we can start again on the property ladder here.
Middlesbrough to Oz via Crawley for me. I love Oz to bits, but if I ever go back to the UK, it won't be to Crawley. Middlesbrough would come close to a good choice though - if only for the Boro. I nearly splashed out $25 on a fake boro top today. Pretty good quality too!
Middlesbrough to Oz via Crawley for me. I love Oz to bits, but if I ever go back to the UK, it won't be to Crawley. Middlesbrough would come close to a good choice though - if only for the Boro. I nearly splashed out $25 on a fake boro top today. Pretty good quality too!
I used to live in Northside, melbourne and thought it was aarrlreet.
Jazzy
Apr 9th 2006, 10:59 am
#21
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Re: Moved to Oz but kept house in the UK
Originally Posted by jazzys
Hi, I just wondered if many (or any) people have emigrated to Oz but kept their house in the UK.
Have you rented a home in Oz and rented your house out in the UK?
Is it a sensible idea?
Just rambling thoughts really but I don't want to "wish I had kept the house in England" argument to crop up a few months after we move.
Cheers
Jazzy
Have you rented a home in Oz and rented your house out in the UK?
Is it a sensible idea?
Just rambling thoughts really but I don't want to "wish I had kept the house in England" argument to crop up a few months after we move.
Cheers
Jazzy
Apr 9th 2006, 11:21 am
#22
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Re: Moved to Oz but kept house in the UK
Originally Posted by thribble
We kept the house in the UK. We're not planning on selling it until we retire, then using the money as our pension. It also gives a nice fall back position if everything does screw up here. NOT that we're planning on using it! But we're lucky enough to be young enough and not have the kids that means we can start again on the property ladder here.
Middlesbrough to Oz via Crawley for me. I love Oz to bits, but if I ever go back to the UK, it won't be to Crawley. Middlesbrough would come close to a good choice though - if only for the Boro. I nearly splashed out $25 on a fake boro top today. Pretty good quality too!
Middlesbrough to Oz via Crawley for me. I love Oz to bits, but if I ever go back to the UK, it won't be to Crawley. Middlesbrough would come close to a good choice though - if only for the Boro. I nearly splashed out $25 on a fake boro top today. Pretty good quality too!
Apr 9th 2006, 11:23 am
#23
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Re: Moved to Oz but kept house in the UK
Originally Posted by jazzys
I'm going to drive around all the shiddy places where I live (spennymoor) with my video camera stuck on my dashboard and then I will be able to look at it every now and then and thank the good lord I'm not there anymore.
The trouble is I think my missus might look at it the other way round and think "aahhh I don't half miss those grimey back streets and terraced houses"
Jazzy
The trouble is I think my missus might look at it the other way round and think "aahhh I don't half miss those grimey back streets and terraced houses"
Jazzy
oops maybe shouldnt have added the thing about the cars, trollys im trying to selll :scared:
Last edited by lollyno1; Apr 9th 2006 at 11:51 am.
Apr 9th 2006, 11:33 am
#24
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Re: Moved to Oz but kept house in the UK
I knew a guy who did it - he played in a band with me.
Year after year, the exchange rate from the pound to the AUdollar went
up and up and up, so soon he was getting way more than he needed every
month.
Every month he would buy a couple more collectable guitars...
Year after year, the exchange rate from the pound to the AUdollar went
up and up and up, so soon he was getting way more than he needed every
month.
Every month he would buy a couple more collectable guitars...
Apr 10th 2006, 8:54 am
#25
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Re: Moved to Oz but kept house in the UK
Originally Posted by lollyno1
ill bring u the real thing when i get over...will have a new one by then as we gonna win the uefa AND FA cup. lol
Apr 10th 2006, 9:44 am
#26
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Re: Moved to Oz but kept house in the UK
We didn`t need themoney but decided to sell up.Then again if we had stayed in the UK we would have moved to a bigger house anyhow. Bear in mind that the new sellers pack being introduced by 2 jags will be brought in i believe next year so presumably you will need to organise that from OZ
The housing market is still quite buoyant down in Sussex. Put house on market on Wednesday and sold on Thursday.
Good luck on which way you go.
The housing market is still quite buoyant down in Sussex. Put house on market on Wednesday and sold on Thursday.
Good luck on which way you go.
Apr 10th 2006, 9:47 am
#27
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Re: Moved to Oz but kept house in the UK
Originally Posted by sinsbury family
We didn`t need themoney but decided to sell up.Then again if we had stayed in the UK we would have moved to a bigger house anyhow. Bear in mind that the new sellers pack being introduced by 2 jags will be brought in i believe next year so presumably you will need to organise that from OZ
The housing market is still quite buoyant down in Sussex. Put house on market on Wednesday and sold on Thursday.
Good luck on which way you go.
The housing market is still quite buoyant down in Sussex. Put house on market on Wednesday and sold on Thursday.
Good luck on which way you go.
Ljj
Apr 10th 2006, 10:33 am
#28
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Re: Moved to Oz but kept house in the UK
Originally Posted by ljj
What is 2 jags and sellers pack?
Ljj
Ljj
Sorry 2 Jags is the nickname for the Deputy Prime Minister John Prescott.
Here is a link to a BBc story that will explain what the sellers pack is.
http://news.bbc.co.uk/1/hi/business/3240004.stm
Apr 10th 2006, 1:07 pm
#29
Joined: Jan 2006
Posts: 312
Re: Moved to Oz but kept house in the UK
Originally Posted by jazzys
Hi, I just wondered if many (or any) people have emigrated to Oz but kept their house in the UK.
Have you rented a home in Oz and rented your house out in the UK?
Is it a sensible idea?
Just rambling thoughts really but I don't want to "wish I had kept the house in England" argument to crop up a few months after we move.
Cheers
Jazzy
Have you rented a home in Oz and rented your house out in the UK?
Is it a sensible idea?
Just rambling thoughts really but I don't want to "wish I had kept the house in England" argument to crop up a few months after we move.
Cheers
Jazzy
Apr 10th 2006, 8:09 pm
#30
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Location: Wilmslow, Cheshire
Posts: 170
Re: Moved to Oz but kept house in the UK
Originally Posted by mattvicki
Hi Jazzy,
We are doing the same, as we don't know if we will stay.
*I believe* you should get the property valued before you leave because if you do sell up in a few years you will be liable to pay capital gains tax on any profit you make on the sale over the value it is at when you start to rent it out.
I think you have some thing like a year to sell it after emmigrating without incuring any CGT but it would be worth checking with an IFA.
Good Luck....we are still treading through the murky waters of Overseas landlord scheme tax deductions etc...great fun!!
Matt
We are doing the same, as we don't know if we will stay.
*I believe* you should get the property valued before you leave because if you do sell up in a few years you will be liable to pay capital gains tax on any profit you make on the sale over the value it is at when you start to rent it out.
I think you have some thing like a year to sell it after emmigrating without incuring any CGT but it would be worth checking with an IFA.
Good Luck....we are still treading through the murky waters of Overseas landlord scheme tax deductions etc...great fun!!
Matt
I've just been on the phone this evening to the the tax office in Liverpool. I asked whether if we rented the house out in the UK when we went to Australia we would be liable for Capital Gains when we sold the house. He said that the date you become liable for Capital Gains depends on how long you lived in the property before you rented it out. I said that we would probably rent ours out for about 4 years having lived in it for 5 years. He said that we would not be liable for Capital Gains after the 4 years. However if we were to rent it out for 10 years we would be liable.I asked what amount capital gains was calculated on - he said the difference between when you bought it (note not when you started to rent it out - I guess it would be difficult to pin down this figure anyway) to when you sold it. Another thing he said was that the capital gains you may be liable for in the UK was NOT dependent on whether you bought or not in Oz. I thought that by buying in Oz I would make myself more liable for Capital Gains since the UK home would no longer be my only property. This is not the case, since the UK home would cease to be my main residence as soon as I ceased to be a UK resident. Hope this is of help to someone. the hmrc website is quite useful. the forms IR283 and IR279 should give more detailed info on how much Capital Gains you can expect to pay.
Cheers
