Returning to UK. Do we have to pay tax (or anything else?!) on money we take back?

[Guest millymandy]

Hi all,

 

We moved over here from UK 8 years ago and have now decided, after giving it a good try, to return home. I just wondered whether anyone knows about any tax etc that we would have to pay on anything we take back with us? We sold our house in UK a couple of years ago after renting it out for 6 years (and now regret that!!) and didn't put that money into our house here, so it has been gaining interest in our bank account here. When we take our money back, will we have to be taxed on it, although we do declare it (and are taxed on it) here? Also, would we be taxed on the profits from selling our house here too? It may seem like a silly question, but we really have no idea!!

 

Thank you for any advice at all.

[kadina]

Do you not have an accountant here ?? you should get taxed in Australia for any interest on savings but to the best of my knowledge nothing in the UK on it when you return they are two totally separate tax systems you don't pay tax twice on it hope that helps you only pay tax on interest and if its a residential property no you will not be taxed the only time that would happen is if it was a rental property and you sold it you would pay capital gains tax but obviously thats not the case with you. double check with your accountant but weve been back to the UK ourselves after 9 years and had no problems and we are back now, good luck with things

 

Hi all,

 

We moved over here from UK 8 years ago and have now decided, after giving it a good try, to return home. I just wondered whether anyone knows about any tax etc that we would have to pay on anything we take back with us? We sold our house in UK a couple of years ago after renting it out for 6 years (and now regret that!!) and didn't put that money into our house here, so it has been gaining interest in our bank account here. When we take our money back, will we have to be taxed on it, although we do declare it (and are taxed on it) here? Also, would we be taxed on the profits from selling our house here too? It may seem like a silly question, but we really have no idea!!

 

Thank you for any advice at all.

[Guest millymandy]

Thanks for your advice - that's what I thought. Are you back over here again after UK?

[kadina]

Yes we are back

 

OTE=millymandy;298453]Thanks for your advice - that's what I thought. Are you back over here again after UK?