Tax Implications for buying to let abroad?

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DoctorStrangelove replied

2 October 2018, 10:18
Originally posted by Paddy View Post

Seriously, don't do it in Florida. I have two friends that own there own real-estate companies in Florida, the market for rental has collapsed. Property prices are falling every day.

Yes.

Mostly down holes in the ground.
Leave a comment:
Paddy replied

2 October 2018, 09:56
Originally posted by shailesh1 View Post

Hello,

I have been looking at the possibility of buying a villa in Florida to rent out and also visit regularly, with the option of retiring there eventually.

Does anyone know if there are any tax implications here in the UK if I want to buy out there? I'm not planning to make money, just break even and clear the mortgage off. The mortgage will be taken out in Florida, well that is what I am thinking.

Thanks

Seriously, don't do it in Florida. I have two friends that own there own real-estate companies in Florida, the market for rental has collapsed. Property prices are falling every day.
Leave a comment:
Zigenare replied

2 October 2018, 07:45
Originally posted by shailesh1 View Post

Hello,

I have been looking at the possibility of buying a villa in Florida to rent out and also visit regularly, with the option of retiring there eventually.

Does anyone know if there are any tax implications here in the UK if I want to buy out there? I'm not planning to make money, just break even and clear the mortgage off. The mortgage will be taken out in Florida, well that is what I am thinking.

Thanks

What happened to shailesh?

I used to like him.

Nice chap.

Had a great collection of Gladiator Vids. And what a technique for bleeding the radiators!

Anyone seen the spoon?
Leave a comment:
DoctorStrangelove replied

2 October 2018, 06:56
And be sure to watch all those sinkhole programmes on 5.

That should put you off buying property in Florida forever.

Assuming the alligators & gun totting locals don't.

Yeeee haw.

Interactive Florida Sinkhole Map | Do you live near a sinkhole?

Wal-Mart back-to-school sign hung above guns, sparking outrage
Leave a comment:
darmstadt replied

1 October 2018, 22:41
I'm in Florida at the moment and the only advice I can give, is buy a pickup truck, never seen so many in my life...Mind you it is warm and watch out for the tree climbing alligators
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Mordac replied

1 October 2018, 21:19
Originally posted by shailesh1 View Post

I did try and Google but couldn't find an answer. Will ask my accountant as well.

If Google doesn't know, what do you think are the chances of you finding an answer on here?
My 2p worth:
1 - Don't tell HMRC anything, and hope they don't find out about your overseas assets.
2 - Buy some asbestos underpants...
Leave a comment:
shailesh1 replied

1 October 2018, 21:11
I did try and Google but couldn't find an answer. Will ask my accountant as well.
Leave a comment:
northernladuk replied

1 October 2018, 20:35
No idea. There must be better forums to ask than a contracting one?

What did your gladiator say?
Leave a comment:
shailesh1 started a topic Tax Implications for buying to let abroad?

1 October 2018, 19:57
Tax Implications for buying to let abroad?

Hello,

I have been looking at the possibility of buying a villa in Florida to rent out and also visit regularly, with the option of retiring there eventually.

Does anyone know if there are any tax implications here in the UK if I want to buy out there? I'm not planning to make money, just break even and clear the mortgage off. The mortgage will be taken out in Florida, well that is what I am thinking.

Thanks
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