Hello,
We will sell my US house before we move from US to UK.
We meet the test to qualify for exemption of tax on the gains.
We will be UK domiciled and resident, dual UKC & USC
If I leave US and arrive UK AFTER I sign the sale BUT BEFORE I receive the $$ payment from the purchaser will this receipt of funds be a UK taxable event - or should I stay in US until the funds are deposited ?
We have never before sold a US house so not sure how it works. I asked a real estate co. and they advised that the funds are transfered electronically at the time of closing so this may not be a matter for concern.
I am wondering what other peoples experiences have been.
Thanks