UK House sale and H-1B: Tax Consequence?
Nov 17th 2010, 9:41 pm
#1
Just Joined
Thread Starter
Joined: Nov 2010
Posts: 2
Re: Tax advice & private messages
Hi Pete,
We're just starting out on the road to expat status. I've received a job offer in San Diego and are currently evaluating the tax implications of relocating.
The current question I have is that if I sell my main family home in the UK after I accept/initiate a H1B visa, do I have to capital gains on the proceeds of the house sale? If so is there any capital gains allowance, is this on profit of the house sale or whole sale price, and what are the rates of capital gains.
On a similar note, is there any implications on moving the proceeds of the house sale into the US. Our aim would be to buy in the US once we're settled.
thanks!
We're just starting out on the road to expat status. I've received a job offer in San Diego and are currently evaluating the tax implications of relocating.
The current question I have is that if I sell my main family home in the UK after I accept/initiate a H1B visa, do I have to capital gains on the proceeds of the house sale? If so is there any capital gains allowance, is this on profit of the house sale or whole sale price, and what are the rates of capital gains.
On a similar note, is there any implications on moving the proceeds of the house sale into the US. Our aim would be to buy in the US once we're settled.
thanks!
Nov 17th 2010, 10:48 pm
#2
Joined: Apr 2002
Posts: 35,082
Re: Tax advice & private messages
Toocan, I have copied your post from the pinned thread to make your own thread. Please read my message here: http://britishexpats.com/forum/showp...08&postcount=5
I would urge caution to you WRT buying in the US 'too early' and for you to remember that the H-1B is a temporary visa.
I would urge caution to you WRT buying in the US 'too early' and for you to remember that the H-1B is a temporary visa.
