Hi Guys,
I have been working in the UK for the last 10 months. I left NZ in Jan last year and traveled for a few months before settling down in London.
My situation: LAQC holding 1 property that is CF Neutral at the moment. I plan to transfer it to a LTC (im currently back in the country on holiday and am looking at the paperwork at present). Director and 100% shareholder. Purchased in 2009.
My question is, do i need to become a Non resident? What are the tax implications of staying a resident or becoming a non-resident for tax purposes? I plan to be in the UK for the next few years at this stage. Can the director and shareholder be a non-resident?
Is an LTC the best way forward for me? I havent claimed a huge amount of depreciation over the last few years, but dont want to trigger depreciation recovered if i dont have to, hence the reason of transitioning to LTC.
Mortgage is with the BNZ, if i transfer to LTC, do i need to change any of the mortgage docs, based on a new structure?
Any help on this will be greatly appreciated.
Cheers,
Tom
I have been working in the UK for the last 10 months. I left NZ in Jan last year and traveled for a few months before settling down in London.
My situation: LAQC holding 1 property that is CF Neutral at the moment. I plan to transfer it to a LTC (im currently back in the country on holiday and am looking at the paperwork at present). Director and 100% shareholder. Purchased in 2009.
My question is, do i need to become a Non resident? What are the tax implications of staying a resident or becoming a non-resident for tax purposes? I plan to be in the UK for the next few years at this stage. Can the director and shareholder be a non-resident?
Is an LTC the best way forward for me? I havent claimed a huge amount of depreciation over the last few years, but dont want to trigger depreciation recovered if i dont have to, hence the reason of transitioning to LTC.
Mortgage is with the BNZ, if i transfer to LTC, do i need to change any of the mortgage docs, based on a new structure?
Any help on this will be greatly appreciated.
Cheers,
Tom
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