Hello
Guest

Sponsored Links


Topic: Should I stay in US until my house sale check clears?  (Read 971 times)

0 Members and 1 Guest are viewing this topic.

Should I stay in US until my house sale check clears?
« on: December 14, 2009, 08:52:45 PM »
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


  • *
  • Posts: 2646

  • Liked: 108
  • Joined: Dec 2005
Re: Should I stay in US until my house sale check clears?
« Reply #1 on: December 14, 2009, 09:06:13 PM »
There is no UK tax on the sale of a main residence.

There could capital gain tax on currency gains but this unlikely to be an issue.


Re: Should I stay in US until my house sale check clears?
« Reply #2 on: December 15, 2009, 07:25:19 PM »
I like that kind of feedback, nothing to worry about on this subject.
Well, thats a stone turned and nothing nasty found underneath. Maybe I am worrying too much about this stuff.
Cheers,
June and John


Sponsored Links





 

Privacy and Cookies

Due to EU data and privacy protection laws (see GDPR), we need your consent to set cookies, which are used for logins and anonymised usage tracking, which we use to provide the best experience on our site. If you continue to use our website, you accept our Privacy and Cookies Policies.

We display advertisements from Google and other ad services, which helps fund website operating costs. We all understand that ads can be annoying, but UK Yankee could not continue to operate without them as they have funded a majority of our operating costs.

These ads are sometimes personalised based on your interests, such as special offers on products you like and sites you've visited before, same as most other websites. Google Ads requires these ad partners to be GDPR compliant. If you are a member, you can disable ad personalisation in your profile settings.

Accept and Continue Disable Personalised Ads

coloured_drab