Selling property in Scotland from Australia
May 9th 2018, 4:04 am
#1
Just Joined
Thread Starter
Joined: May 2018
Posts: 2
Selling property in Scotland from Australia
Hi Everyone,
My partner and I own a property in Aberdeen and we've decided to finally bite the bullet and sell when the tenants move out in October 2018. I think there will be tax to pay in Scotland as we started renting it out in 2008 and probably tax to pay in NSW too but I'm feeling confused. Has anyone else sold in Scotland recently? Any advice would be greatly appreciated!
Thank you!
My partner and I own a property in Aberdeen and we've decided to finally bite the bullet and sell when the tenants move out in October 2018. I think there will be tax to pay in Scotland as we started renting it out in 2008 and probably tax to pay in NSW too but I'm feeling confused. Has anyone else sold in Scotland recently? Any advice would be greatly appreciated!
Thank you!
Jun 21st 2018, 11:41 pm
#2
BE Enthusiast
Joined: Jul 2005
Posts: 430
Re: Selling property in Scotland from Australia
Hi Everyone,
My partner and I own a property in Aberdeen and we've decided to finally bite the bullet and sell when the tenants move out in October 2018. I think there will be tax to pay in Scotland as we started renting it out in 2008 and probably tax to pay in NSW too but I'm feeling confused. Has anyone else sold in Scotland recently? Any advice would be greatly appreciated!
Thank you!
My partner and I own a property in Aberdeen and we've decided to finally bite the bullet and sell when the tenants move out in October 2018. I think there will be tax to pay in Scotland as we started renting it out in 2008 and probably tax to pay in NSW too but I'm feeling confused. Has anyone else sold in Scotland recently? Any advice would be greatly appreciated!
Thank you!
We sold our Aberdeen property at the end of 2015. Owned since 2001 and rented since 2004. No capital gains in Scotland and very little in Australia. In Australia it was all to do with when we committed to life in Australia - we had a couple of choices such as when we got PR, when we became citizens or when we bought our first Australian house. The Aussie accountant looked into exchange rates on each of those dates and worked out the figures.
Jun 25th 2018, 11:30 pm
#3
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Selling property in Scotland from Australia
https://www.bdhtax.com/news/capital-...-nrcgt-return/
Don't forget the need to consider UK capital gains tax as well - and the requirement to submit a Non Resident CGT return with HM Revenue within 30 days of the sale completing.
Late filing penalties apply if you don't submit the NRCGT return on time.
Best regards.
Don't forget the need to consider UK capital gains tax as well - and the requirement to submit a Non Resident CGT return with HM Revenue within 30 days of the sale completing.
Late filing penalties apply if you don't submit the NRCGT return on time.
Best regards.
Jul 27th 2018, 1:12 am
#4
Forum Regular
Joined: Jun 2010
Posts: 61
Re: Selling property in Scotland from Australia
Hi
We sold our Aberdeen property at the end of 2015. Owned since 2001 and rented since 2004. No capital gains in Scotland and very little in Australia. In Australia it was all to do with when we committed to life in Australia - we had a couple of choices such as when we got PR, when we became citizens or when we bought our first Australian house. The Aussie accountant looked into exchange rates on each of those dates and worked out the figures.
We sold our Aberdeen property at the end of 2015. Owned since 2001 and rented since 2004. No capital gains in Scotland and very little in Australia. In Australia it was all to do with when we committed to life in Australia - we had a couple of choices such as when we got PR, when we became citizens or when we bought our first Australian house. The Aussie accountant looked into exchange rates on each of those dates and worked out the figures.
Jul 27th 2018, 1:14 am
#5
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Selling property in Scotland from Australia
I’m in a similar situation in that my arrival in Australia in early 2012 would deem my UK house cost base to be high in AUD, (based on AUS tax residency being immediately applicable). I didn’t realise that Aus tax residency could be deemed to be PR date or Citizenship date, having already selected ‘I’m tax resident’ on my employment forms.
Best regards.
Jul 27th 2018, 2:41 am
#6
Forum Regular
Joined: Jun 2010
Posts: 61
Re: Selling property in Scotland from Australia
Jul 27th 2018, 10:41 am
#7
Banned
Joined: Jul 2018
Location: Sydney
Posts: 5
Re: Selling property in Scotland from Australia
I agree with Alan because you can not have a tax residency if you are a Australian national and other than that contact a good agent who can help you with these taxes.
Jul 27th 2018, 11:46 pm
#9
Forum Regular
Joined: Jun 2010
Posts: 61
Re: Selling property in Scotland from Australia
I’ve read this a few times, still don’t understand what you’re saying. I don’t think anyone is disagreeing with Alan.
Jul 28th 2018, 7:32 am
#10
Concierge
Joined: Jan 2013
Location: Western Australia
Posts: 21,138
Re: Selling property in Scotland from Australia
