Do we stay... Sell up in the UK
Jan 8th 2012, 6:18 pm
#16
BE Forum Addict
Joined: Jan 2009
Location: South Auckland
Posts: 2,228
Re: Do we stay... Sell up in the UK
What ever tax you pay in the Uk is not taxed again in NZ. You will only be taxed once on what you earn. The tax I pay in the Uk on my interest on my UK money is 'given' to me as a tax credit in NZ. I came before the 4 year tax free rule so I pay tax in NZ on my UK monies. Any tax deducted in the UK become an NZ tax credit. BTW if you take the 4 year tax free thinhgy I am reliably told you cannot claim for family tax creitds aswell..you have to chose betwixt the 2. You might want to see if this is correct.
Jan 9th 2012, 1:12 am
#17
Forum Regular
Joined: Jun 2010
Location: Porirua, Wellington
Posts: 207
Re: Do we stay... Sell up in the UK
Depends what you want to do. We wanted a clean break with no financial ties left the UK, to build a new life, buy/build a house here and not have the hassle of tenants (I was a landlord for 8 years and found 3/4 of tenants to be filthy!).
We got 10k less than we paid for it 4 years before, but got it sold easily (thought I would say were lucky). We got our equity out and we're using it to build over here.
We took the view that the market isn't going to recover any time soon, a sale's a sale and we weren't out of pocket given we'd paid 4 years off the mortgage - we just didn't make a profit.
We got 10k less than we paid for it 4 years before, but got it sold easily (thought I would say were lucky). We got our equity out and we're using it to build over here.
We took the view that the market isn't going to recover any time soon, a sale's a sale and we weren't out of pocket given we'd paid 4 years off the mortgage - we just didn't make a profit.
Jan 9th 2012, 6:45 am
#18
Life is what YOU make it.
Joined: Oct 2009
Location: Christchurch
Posts: 3,312
Re: Do we stay... Sell up in the UK
Depends what you want to do. We wanted a clean break with no financial ties left the UK, to build a new life, buy/build a house here and not have the hassle of tenants (I was a landlord for 8 years and found 3/4 of tenants to be filthy!).
We got 10k less than we paid for it 4 years before, but got it sold easily (thought I would say were lucky). We got our equity out and we're using it to build over here.
We took the view that the market isn't going to recover any time soon, a sale's a sale and we weren't out of pocket given we'd paid 4 years off the mortgage - we just didn't make a profit.
We got 10k less than we paid for it 4 years before, but got it sold easily (thought I would say were lucky). We got our equity out and we're using it to build over here.
We took the view that the market isn't going to recover any time soon, a sale's a sale and we weren't out of pocket given we'd paid 4 years off the mortgage - we just didn't make a profit.
Feb 7th 2012, 6:15 am
#19
Forum Regular
Thread Starter
Joined: Apr 2008
Location: Wellington, NZ
Posts: 61
Re: Do we stay... Sell up in the UK
Thank you all for your advice. What we have chosen to do following your advice, is to keep and fix the mortgage once more.
We make £495pcm and the mortgage will fix the repayments at £395. So, after estate agent fees we will still be saving a little. We're not prepared to sell at a loss so we'll live through the contracted 3 years, the housing market 'might' improve in that time.
In the meantime We're enjoying ourselves here in NZ, with its economy nowhere near what is happening up in the northern bit of the globe. I'm paid more than when I was working in London and that's just unbelievable on this small island with only 4.something million people!
The only thing that gets me down about this country is the lack of cultural events, and especially in Wellington. Each email newsletter from various event websites tells me more is happening in Auckland than in NZ's capital. I do miss the history and ye olde seaside of Britain. I'll get over it when I next enjoy the snorkel trails of island bay and go surfing in the Wairarapa.
Thanks all for your time and advice. Good luck to you
We make £495pcm and the mortgage will fix the repayments at £395. So, after estate agent fees we will still be saving a little. We're not prepared to sell at a loss so we'll live through the contracted 3 years, the housing market 'might' improve in that time.
In the meantime We're enjoying ourselves here in NZ, with its economy nowhere near what is happening up in the northern bit of the globe. I'm paid more than when I was working in London and that's just unbelievable on this small island with only 4.something million people!
The only thing that gets me down about this country is the lack of cultural events, and especially in Wellington. Each email newsletter from various event websites tells me more is happening in Auckland than in NZ's capital. I do miss the history and ye olde seaside of Britain. I'll get over it when I next enjoy the snorkel trails of island bay and go surfing in the Wairarapa.
Thanks all for your time and advice. Good luck to you
Feb 7th 2012, 8:44 am
#20
Life is what YOU make it.
Joined: Oct 2009
Location: Christchurch
Posts: 3,312
Re: Do we stay... Sell up in the UK
The UK house market has to pick up but when. Immigrants entering the UK at the mo compared to those numbers leaving is a deficit of 250,000 per year. House building is only 100,000 units per year due to a combination of the cash freeze and new developments being refused due to objections over planning.
Simple sums will do the rest...
Simple sums will do the rest...
