| Re: Repatriation of funds
This has been one hell of an education!!
Firstly, I don't think the seller will negotiate on the separate contract etc as it means more hassle for him and as you said, more tax!
I have not yet decided to purchase this property, but if I do, all his money will be paid in the UK itself and the balance will be paid to the developer in morocco through stage payments / finance. So basd on the above example, officially I would have only paid 50k for the property and when it comes to reselling say, I sell it for 120k (im buying it for 90k).
That means, I am having to pay tax on 70k!!!!! which seems really really unfair....even if i was to show a lower figure on the CdV, it would be 100k....still tax on 50k when I have only really made a profit of 30k. Somehow, this just doesn't make sense...
So lets look at this the other way around, as if from my viewpoint. In the above example, under the current regulations, what would I need to do to make this transaction "work" for me? |