Trial retirement run

Old Sep 22nd 2020, 11:26 am
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Default Trial retirement run

I’ve lived in Canada my adult life been married and raised a family. Divorced 3 years ago and children are grown.
visited home frequently and always felt at peace and at home when I was there. I’m 55 and will retire in next few years or sooner if more “packages” are handed out.
I thought of renting out my house for a year when the time comes and renting a flat to make sure it’s what I really want and not just nostalgia and an incorrect mind . After all it’s fabulous on holiday with lots of family around and having fun.
I should say I’m close with my daughter and she supports a move , since my divorce I’m not as close with friends and the remaining family I have here I’m not close with and barely see them.
Has anyone else done a test run before committing? What are the financial challenges of having feet in both countries?
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Old Sep 22nd 2020, 12:41 pm
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Default Re: Trial retirement run

One option, which is midway between a vacation and moving for a year, is to get a long winter rental of a holiday cottage. Many times, whether or not advertised, owners or agencies are willing to let for three or four months for a reasonable rate somewhere in the Dec thru March period. I did this for ten weeks in ... 2014? Can’t quite remember the year now.

Anyway, it’s easy to do because, as it’s a self catering rental, you just arrive with a suitcase so the logistics are straightforward..
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Old Sep 22nd 2020, 2:42 pm
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Default Re: Trial retirement run

We did a trial run back in 2011 the year after we retired at age 55. We rented a house for 6 months in the town we wanted to try out, starting in February so we could experience some winter and stagger over the tax year so we didn’t become tax resident.

We absolutely loved it, spent the next 5 years doing a load of travel elsewhere, then decided to split our time between the USA and UK. In May 2016 we rented a house for a year in that same town in England, but after 6 weeks back decided to make the move permanent. For us it has worked out great.
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Old Sep 23rd 2020, 1:27 pm
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Default Re: Trial retirement run

Thank you, an option I had not considered
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Old Sep 23rd 2020, 1:31 pm
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Default Re: Trial retirement run

Originally Posted by durham_lad
We did a trial run back in 2011 the year after we retired at age 55. We rented a house for 6 months in the town we wanted to try out, starting in February so we could experience some winter and stagger over the tax year so we didn’t become tax resident.

We absolutely loved it, spent the next 5 years doing a load of travel elsewhere, then decided to split our time between the USA and UK. In May 2016 we rented a house for a year in that same town in England, but after 6 weeks back decided to make the move permanent. For us it has worked out great.

Thank you, yes I anticipate winter would be the worst however not as nasty as Canada for slush etc. You mention tax resident, how long as a UK resident to be considered to pay tax?
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Old Sep 23rd 2020, 3:03 pm
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Default Re: Trial retirement run

Originally Posted by carlisleblonde
Thank you, yes I anticipate winter would be the worst however not as nasty as Canada for slush etc. You mention tax resident, how long as a UK resident to be considered to pay tax?
The tax residency rules have changed since we did our thing back in 2011, which was 183 days in a single tax year or an average of 90 days/year over a 4 year period. These days it is different and there is new residence test.

Introduced in April 2013 the Statutory Residence Test is now used:
https://www.gov.uk/government/public...dence-test-srt
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Old Sep 23rd 2020, 4:41 pm
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Default Re: Trial retirement run

We have not even thought of doing this ............. after over 50 years in Canada, we're settled here.

However, we have had friends who tried it.

They had always said they would return to the UK after retirement, and rented a converted barn for 6 months about 2 years before that was due to happen. Their youngest child had died, but their 2 eldest had both settled in England, with families, and the barn was about half way between those two.

The 6 months was sufficient to tell them that they would be much happier staying in Canada, and spending long holidays each year in the UK. That is what has happened.

Unfortunately his wife died about 2 years after retirement, but he has remained here, buying a townhouse in a small town close to where they lived, has developed new interests, and even has a friend to go on holidays with. He spends about 6 weeks each year in the UK.

He found what so many of us have found ........ after years away, we have grown away from friends. They're excited to see us on holidays, but soon settle back into their "normal" lives which doesn't include much time for us. Same with family, what's left of them after so long away.

I think your idea of spending several months there is a good idea, but don't give up everything here until you've tried it!



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