Return to the Uk from Canada - tax considerationa
#1
Return to the Uk from Canada - tax considerationa
We're looking to return to the UK shortly from Canada and are currently waiting for our house to sell.
There's a few tax considerations I'm aware of related to the move back such as selling your house first before you leave Canada so you're not subject to 25%, plus tax withholding when cashing Canadian RRSP's in.
Has anyone used a financial advisor or tax consultant for this purpose and if so, any recommendations for the Vancouver lower mainland area here in BC?
There's a few tax considerations I'm aware of related to the move back such as selling your house first before you leave Canada so you're not subject to 25%, plus tax withholding when cashing Canadian RRSP's in.
Has anyone used a financial advisor or tax consultant for this purpose and if so, any recommendations for the Vancouver lower mainland area here in BC?
#2
Forum Regular
Joined: Mar 2008
Location: Canada
Posts: 206
Re: Return to the Uk from Canada - tax considerationa
We're looking to return to the UK shortly from Canada and are currently waiting for our house to sell.
There's a few tax considerations I'm aware of related to the move back such as selling your house first before you leave Canada so you're not subject to 25%, plus tax withholding when cashing Canadian RRSP's in.
Has anyone used a financial advisor or tax consultant for this purpose and if so, any recommendations for the Vancouver lower mainland area here in BC?
There's a few tax considerations I'm aware of related to the move back such as selling your house first before you leave Canada so you're not subject to 25%, plus tax withholding when cashing Canadian RRSP's in.
Has anyone used a financial advisor or tax consultant for this purpose and if so, any recommendations for the Vancouver lower mainland area here in BC?
It seems that the accounts in the UK make you take an annuity out at retirement, whether you want to or not and I'm not keen on that. I have ended up thinking that losing the 25% withholding tax is a fair price to pay to get the funds into a liquid state to do with what you wish. Other than that I can see a tax consultant would be useful.