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