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Old 7th Sep 2014, 12:42
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777boyo
 
Join Date: Feb 2008
Location: S E Asia
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Just to clarify - my previous post was not so much about the difficulties or otherwise of getting a mortgage to buy a property in the UK, but rather a warning of the potential tax pitfalls of owning a property there which is to be occupied full time by wife and kids while you commute to/from an overseas location to visit them on a regular basis on days-off or vacation. The new residence tests applied by HMRC can be a minefield for commuters who have accommodation available to them on UK visits - for example, a room permanently available in even parents house can, in some circumstances, be sufficient to meet one of HMRC's new tests and have the effect, in combination with other tests, of making you resident for tax purposes and therefore liable to tax on your worldwide income. It really is worth investigating and getting some serious advice.

As far as Helen-D's post above goes, it just goes to show that you need to shop around and make your own selection of an Advisor. I know several pilots in SIN and HKG who are very happy with Fry's Tax advice - the opinion of their financial planning advice is not always as positive. Caveat Emptor.

7B
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