UK Tax Questions? Ask a UK Tax Advisor for answers ASAP
I built the house 6 years ago when the baht to pound was 72 to £1 and it cost 14 million baht however the market here in Thailand tanked and I sold it for 8.5 million baht but at an exchange rate of 47 to the pound,I realise this is in my favour financially but to what degree I have not worked it out.
Therefore if there is a CGT when would it be collected and declared?,
May I also mention the cash from the house sale resides in a reputanle Thai bank account and I will be sending the money direct to my relative as a loan to purchase a house,would there be any issue with that.
There is no issue with the Thai bank letting me transfer the money to my relative I was wondering if there would be any issue with the receiving UK bank which would be my ex wives account.
And her having this money loaned to her would not incur any tax etc for her although this would not be her permanent residence we are buying this house for our eldest daughter to live in.
If I where to become bankrupt would there be a claim on her house as I had loaned her the money.
Can you ask a bankruptcy lawyer/expert the answer to that last question I posed.