Tootsie Frickensprinkles

Hi

I am sure I remember reading on one of the IRS sites that unless you have been living in a UK residence as your primary home for 3 of the last 5 years the profit made on the sale of the property becomes taxable when transferring the money to the US.

I really need the details of this and I cant find the site/pages again.

Can anyone help please?

GlasgowBoy

The enternal question - is UK income liable to US taxation? I'd love to help but this confuses the funk out of me too.

scrubbedexpat099

Yes

Assuming you are resident for IRS purposes.

Or a Citizen.

GlasgowBoy

But isn't their a reciprocal agreement saying you don't have to pay tax in both countries? I might have imagined that.

BritGuyTN

1-800-829-1040

Call the IRS

scrubbedexpat099

That does not make it not liable to taxation, it may reduce the amount of the taxation.

I believe the OP's description of the US CGT situation is basically correct, the UK CGT basis is different.

So you can have tax payable in the UK and not the US, vice versa, a bit of both and neither. All depends.

Jerseygirl

Don't I recall a post from you a few months ago saying that you were moving to Qatar?

Rushman

Get a dodgy UK lawyer to deal with the house sale and bring the dosh over as travellers cheques but spread about various US bank accounts and dont deposit more than $9.999.

or so I'm told

scrubbedexpat099

I can not see why that would be needed, you could have received the money with no tax consequences in a variety of ways, or earnt it in the UK.

The$10k is a money laundering thing.

dbj1000

Ah, I know all about the tax implications of selling your home in the UK. It all depends on whether....

...oh bollocks to it! Can't anyone be arsed to use the frikkin' search function on this site?

Well I can't be arsed to type all that crap again. Sorry.

Bob

hehe

well now they know who to search the post by

fatbrit

These things need a Wiki! Any idea if Paul's moving on it?

anotherlimey

That is a neat idea.

BigDavyG

Will this do....

Uhh..
Wicki-wild wild
Wicki-wicki-wild
Wicki-wild
Wicki-wicki Wild Wild West
Jim West, desperado
Rough rider, no you don't want nada
None of this, six-gunnin this, brother runnin this
Buffalo soldier, look it's like I told ya
Any damsel that's in distress
be outta that dress when she meet Jim West
Rough neck so go check the law and abide
Watch your step or flex and get a hole in your side
Swallow your pride, don't let your lip react
You don't wanna see my hand where my hip be at
With Artemis, from the start of this, runnin the game
James West, tamin the West, so remember the name
Now who ya gonna call?
Not the G.B.s
Now who you gonna call?
G double A.G.


If you ever riff with either one of us
BREAK OUT, before you get bumrushed, at the

The Wild Wild West (when I roll into the)
The Wild Wild West (when I stroll into the)
The Wild Wild West (when I bounce into the)
The Wild Wild West (sisqo, sisqo)

The Wild Wild West (we're goin straight, to)
The Wild Wild West (the Wild Wild West)
The Wild Wild West (we're goin straight to the Wild Wild c'mon)

...

The Wild Wild West

Wick wild wild wild
Wickedy wild wild
Wickedy wick wild wild wild
Wickedy wickedy Wickedy Wickedy

Bob

No idea...problems with them seem to be integrating them into the forum I think, so that only members can edit it, perhaps members with a set amount of posts to stop spammers....until then, basically if there's something that can be added to the finance faq, give me a shout and I'll past it in as I've been doing to the ME faq's.