Quote:
Originally Posted by Bevdeforges
Hi, and welcome to the forum.
While I can't tell you much about the mechanics or dent tech trades, I can give you a bit of info about the tax situation. There are tax treaties between the UK and Canada, so you shouldn't be taxed twice on the same income. The general rule of thumb is that you pay tax to the country from which the income comes - so in the case of renting out your house in the UK, you would wind up paying taxes there on that income. Transferring money between the UK and Canada is a separate transaction, and won't incur taxes, though the banks involved will take a fee for making the transfer.
In preparation for your trip you might want to check out some of the Canadian newspapers and news magazines online to get a feel for the sorts of issues you'll find when you get there.
Cheers,
Bev
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Thanks for that Bev, have you any idea roughly what % the bank would be looking for to transfer the money, beginning to wonder if I should just leave it to mount up in the UK and collect a lump sum when visiting parents.
Thanks again