Tax Implications for buying to let abroad?

[shailesh1]

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

[northernladuk]

No idea. There must be better forums to ask than a contracting one?

What did your gladiator say?

[shailesh1]

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

[Mordac]

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...

[darmstadt]

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

[DoctorStrangelove]

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

[Zigenare]

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?

[Paddy]

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.

[DoctorStrangelove]

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.