tax advisor says


US advice:   we don’t tax alien’s once they’ve left the US unless they have income from the  US.

after nearly 8 years you don’t have a green card.   That is good news,    how did you manage that?”

“capitol gains is the difference between the original cost of the house and the price that you sell at.   You have to pay tax on anything over $250,000”   Luckily the real Wendy House has doubled in price without hitting this minimum gain for US capital gains tax.   Hoorah!    Beers all around and bottoms up to boot.   Small is beautiful,   small is untaxworthy so its still mine.

UK advice:   have the biggest garage sale in Wendy House history

This advice was cunningly concealed in this code,      “As you have been outside the UK for 5 UK tax years, by concession you will be charged to Capital Gains Tax only in respect of chargeable gains from disposals made after arrival.”    So I should sell my expensive stuff before I reach the UK.   The Wendy house garage is not eligible for capital gains tax because “The sale of your main residence is tax exempt for capital gains purposes.”    Phew!      

tax advisor says
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