Moving out of the UK to Australia for two years, maybe more

[AndrewEH1]

So what financial plans should I be thinking about?

I have shares in property so get rental income comes in monthly. I also have a few things that will need looking after so put into storage plus a private plate.

Also the sale of an inherited house will probably be completed once I'm away, worth thinking about?

Should I think about setting up a limited company which receives all the income then pays out bills/tax? Or am I over thinking it?

Edited by AndrewEH1 on Sunday 14th September 20:50

[AndrewEH1]

Eric Mc said:

I was hoping the OP would reply as we could see what his line of (over) thinking was.

I have no idea really...that's why I'm asking!

Currently rental income comes to me directly and then I do a self-assessment to ensure I pay the tax on the income minus costs. If I was living abroad this income would still be received. What are the, if any, tax implications of this?

When the sale of the house goes though I would have to pay capital gains if I was resident in the UK (it is currently being renovated and isn't my home). What happens if I was to be living permanently abroad at the time?

[AndrewEH1]

Thanks for that, everything stays pretty much the same. CGT is more confusing though.