tax consultation/request

Hi david

I am Jurock Insider subscriber and read your tax tips on the Jurock site

I am looking for an expert on UK/Canada tax law regarding selling a property
in the UK and transferring the money to Canada while minimizing my Capital

I am a realtor and invest in real estate on the side.

If you have knowledge regarding UK/Canada tax issues how do you charge for
consultation etc and if you don't do this aspect of taxation then perhaps
you can recommend someone experienced in this respect. I would need to
consult on this issue in the next two weeks no later.


david ingram replies:

I do not consider myself a particular specialist but tried typing income tax expert UK Canada real estate into google and came up number one so I should at least try.

Great Britain has an indexation (inflation) exemption from 1982 to 1998 and then starts a tapering program to tax the profit.

Canada is simple in return. At the moment, we tax 50% of the profit at your highest marginal tax bracket.

You would pay tax to the UK first and then report the income again on your Canadian return and claim a foreign tax credit for the tax paid to Great Britain. Essentially, you would be paying whatever tax was highest.

Transferring the funds to Canada is best done with a bank to bank electronic transfer.

Hope it helps.