US & UK International Accountants & Global Tax Services
Are you an American or British national or company considering moving or investing abroad? Managing taxes across borders can be daunting, but Optimise Accountants is here to simplify the complexities of international tax laws and ensure you can navigate them confidently.
We help you navigate the global issues that affect your wealth. We can guide you through the many UK & US Double Taxation Agreements (DTA) to help you avoid paying tax twice.
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US & UK Taxes: From expat returns to compliance with the IRS & HMRC regulations, we ensure you meet your compliance obligations while living abroad.
You could be moving to/from the US, UK, Canada, Spain, Hong Kong, Dubai, or Australia. We can help you mitigate US & UK taxes whilst remaining compliant
You said if they put CGT in line with income tax we'd "just be falling in line with other countries". Really? How many other countries have a top rate of 45% CGT with no indexation or taper relief? I think you'll find if they do that it'll make us the 2nd highest taxer in the entire world. Not a fair move at all. We take risk investing in assets, to take half of that away upon sale and also not account for inflation is absolutely perverse
I was curious on your 'red pen' comment so had to Google it. I cannot believe what I read. That using red ink by teachers on childrens work or question papers is no longer allowed because it might cause the child distress or/and anxiety. I can fully understand this. As a child I had a very important examination - unfortunately I failed the exam and the teacher wrote the score and a scathing comment about my work in the top right hand corner of the work. He even put a circle around it it red ink and exclamation marks in red ink ! As a result of this I know panic when I seen anything in red. It changed my life as a child, destroyed any confidence I once had. I have to avoid red at all costs. I cannot drive because of the red in traffic lights and have to avoid being in busy cities and towns in order to avoid the chance of coming near anything red. I cannot approach anyone wearing red clothing or even be near the vicinity of them. It is made my life so miserable. I have had to move to a remote island of Scotland to minimise the chance of coming into contact with red. Thank goodness everything here is pretty much grey. The sky, the sea and the rock outcrops. But even that is now giving me depressionn and misery.
Is CGT re-basing still applicable? I am a UK citizen but have been non-Uk resident for over 30 years. I had understood that CGT was rebased in 2015 with the effect that gains on UK properties bought prior to 2015 and sold after that could be prorated (as one option) in proportion to the number of years held post 2015, no?
I've got one rented out atm, jst by sheer luck, they have won awards, and I have to say, they are superb, full set of pictures before the tenants moved in, two months after they did an inspection, sent me another set of pictures as to how it's being looked after. As an aside, the tenants wanted it for five years!
Unless you get stuck with a bad tenant that end up costing you way more and it will be a lot harder to move them on and forget about getting the money back. Good luck
There are a lot of things o do not mention on a short video. There is no possibility of identifying and showing ways to mitigate legal matters, especially in a tax video
Sky house prices, high cost to borrow money. Here in sunny Japan the situation is the complete opposite. When you can buy a three-bedroom suburban house for 30,000 pounds, why rent? Jack, the Japan Alps Brit
The really big thing on the horizon is EPC C, most landlords own older terraced properties, they will NEVER get to a C without massive investment........ just evict and sell and enjoy life. Let the govt and councils take up the slack :) There will be a lot of it !!!
I remember in the late 60's and early 70's that council housing was in terrible condition. Single glazed metal framed windows, outside toilets, inadequate insulation and damp. It took ages to get them to fix anything
Not easy to look at something like this in isolation as there is an interplay between so many factors. Policy changes will depend upon whether government, as previous ones have done, just look at individual aspects in isolation in a simplistic fashion. In broad outline for the future, the following need to be addressed: 1. We have an aging population and a declining birthrate. Do we try and make it easier for the young to start a family and have a secure home to live in or do we allow immigration to pick up the shortfall? 2. If we go down the immigration route then massive housebuilding and infrastructure is needed. This will require massive capital spend, quite possibly an increase in taxation and stiff public resistance. 3. Public services are deteriorating and require further investment. This will need further borrowing and that in turn will require further taxation. The question is, from where? 4. UK productivity per capita has flatlined over the past decade or so with the only growth coming from immigration numbers. The government want to improve growth and productivity and that will only be achieved from investment. That will require more borrowing and further taxation. 5. What happens if landlords start to sell? Are there enough potential buyers or will prices have to fall? Will the government be able to borrow enough or create enough new money to buy up some of this stock and turn it into social housing? Would they seek a discount, would they levy a tax on properties empty for too long waiting for sale? There are just so many questions but the current status quo doesn't function and needs to be addressed.
They are heartless and liars! They betrayed those who voted for them! How would they feel if he couldn’t afford winter bills and council tax?! Starmer should step down asap! He is compromising the lives of British citizens! Especially the elderly who have worked all their lives so hard for this country since teenagers! Especially the 60s-100s! He is the worse PM ever! He even abandoned the Rwanda deal just because he hates the Tories. They are not perfect, but they didn’t rob us with taxes. Now Germany is taking up the idea and sending their immigrants to Rwanda, and to the town we built already with £200 million of tax payers money , and Starmer just wasted the money and the opportunity to work with the tories to solve the immigration crisis! It would have helped Rwanda boom and logically help Britain and the world to solve immigration problems! Starmer betrayed us all who voted for him! Unforgivable…He doesn’t care about the citizens of the UK or listen to what they are saying! It’s so awful! We shouldn’t have voted for Labour! He’s worse than Tony Blair…
Starmer going after the wrong people. He should be going after the 1% who own 50% of the Land in England and do not pay a penny of tax for the privlege
Unrealised gain in american is for the billionair, generally people like trump get paid in share and not a wage and then take a loan out on the share to aviod paying any tax
It is and will continue to get worse. LL's have become the target of 'easy pickings' with regard to getting more money from them into the government coffers. Investing in the property rental sector was attractive and relatively simple. You inherited, or bought a house and rented it out. There was not an awful lot of legislation and there were incentives to do so. Now it is the reverse - a bankrupt country is looking at LL's as a cash machine. More and more legislation, less and less allowances. Many will leave. Further CGT will just stop LL's selling (those that stay in the game) . Short sighted. There will likely be a CGT income increase and LL's sell up in a hurry. After which CGT income for the government will drop dramatically as those remaining LL's hang on to properties.
Who is going to upgrade old UK housing stock, damp dumps, corporations? No chance. Small investors stop investing and sell, go live in Bali. Government hate successful individuals, as for cutting winter fuel allowance pure evil... shows what they are made of!
There is absolutely no question about the motive and general direction here. The motive is to make it so difficult for small landlords that they leave and then major institutions and corporations take over the housing market.
It can get worse and it will. These people are consumed with economically illiterate left dogmatism. They see Tax as a tool of Social engineering and wealth redistribution; they think that there are people, "the rich", smoking cigars just sitting on piles of money they can take at will. They have no idea that wealth creation is a continuous process and that everything they do will destroy it.
How can I show a deposit for a limited company I own while transferring a property to myself? For example, if I need to show a £90k deposit for a property valued at £300k, and I have £150k remaining on the mortgage with £150k in equity, how can I use £90k of that equity as the deposit without needing to put in £90k in cash?
Yes it can get worse and I am regretting the fact that I didn't start selling up properties in my name years ago. The banks and the Taxman/Tax person are the only ones profiting from my work, because of Section 24 and high interest rate. I have earned zero income for the last 2 year and I am still being taxed because my mortgage interest is slightly more than my income which cannot be classed as an expense in full.
Hi Thanks for the information, yes it will incrementally get worse. Unfortunately i don't see way out without landlord consultation scheme to understand and assess the damage this will have on People's lives.
All it will do is crash the UK property Market and millionaires will move aboard leaving the UK much worse off, While we allow trash in from other countries that are a liability and not a benefit to the UK nation.
Don't the Netherlands have the best quality of living in the world tho and didn't the Tories rundown gov departments so they wouldn't function properly.. tho i don't think people should have to pay again for property and investments they own, those were paid for by taxed income already
Yes tax the Very well off we the low paid are always thumped with taxes to subside the wealthy qnd that Will stop with the government for the people not those that are wealthy pay up
@@UK-Property-Tax-Accountants Judging by their form so far, it looks far-fetched that anything ambitious as all this stuff could happen. Maybe a tweak on CGT, IHT, pension allowances etc.
@jonb5493 I would agree but I would not put it past The Labour Party or the Conservatives to decide on a tax plan that they cannot implement or monitor 🙄
The number of people in the UK with net assets above a million, including property and pension and savings, is in the top 5%. So 95% won't be affected by this if the tax starts like France at a million. Labour core voters will not be affected by this, so the leadership of Labour have almost a green light to go ahead with this safe in knowledge it's a winner. The 5% I'm afraid will have to dig deep on this if implemented. Assets such as property can be assess using online valuations, it trivial to do and not a blocker for this policy.🏆
@@UK-Property-Tax-Accountants Leave and go where. The US has has a property tax since year dot. Ranges between 0.5 and 2%. Imagine living in 2 million condo in NYC and paying 20k service charge plus another 20k tax. The UK has been very kind to the wealthy for decades, it hasn't gone unnoticed some would say.
Be like the 1970s all the rich will leave,,,,I did ten years ago and over the years reduced any assets in Uk…I personally can’t think of any reason to visit Uk now ,😮
So a pensioner, with a £1.5m house and a small pension - say £20K per year, i.e. half the pensioners in London - would be bankrupted in year 1. Hmmmmm. I can see flaw in that.
