refinanced UK house - tax implications?
#1
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Hi All,
We've remortgaged our UK house to take some of the equity out to put down as a deposit on a place here in the US..
does anyone know if we'll need to pay tax in the UK? or US? or both? as a result...
Thanks in advance..
Glenn
We've remortgaged our UK house to take some of the equity out to put down as a deposit on a place here in the US..
does anyone know if we'll need to pay tax in the UK? or US? or both? as a result...
Thanks in advance..
Glenn
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#2
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I can't see how there would be any tax consequences in either the US or the UK.
I mean, you haven't actually generated any income or capital gain - all you have done is to restructure a loan and borrow some money.
I mean, you haven't actually generated any income or capital gain - all you have done is to restructure a loan and borrow some money.
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#3
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just feels like there's always someone here (US) that pops out of the woodwork and claims i'll need to pay someone something for that..
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