# selling uk property-tax implications



## carmus (Nov 7, 2011)

If we decide to localise in the US and sell our property in the UK does anybody know if we would have to pay taxes in either the UK or the US. We have been in the US for just over a year, I have read/heard somewhere that as long as we sell the house within 3 years we would not be liable to tax in the US. I'm also not sure re the capital gains tax in the UK either.

Has anyone had or know of anyone who has had experience with transferring a UK pension to a QROPS and cashing them in.

so much to consider....so little time to consider it....
Thanks


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## Bevdeforges (Nov 16, 2007)

It depends to a large degree on your tax status in the US - which can depend on what sort of visa you're on. 

Take a look at IRS publication 519 for "non-resident aliens" http://www.irs.gov/pub/irs-pdf/p519.pdf - there is an explanation of how your resident status is determined. If you're considered a resident of the US for tax purposes, then you are supposed to declare your worldwide income (and pay the appropriate taxes on it). If you're considered a non-resident for tax purposes, then only your US source income is taxed.
Cheers,
Bev


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