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bigduckontax, Accountant
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My family in the US have suggested I move money to the US to

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My family in the US have suggested I move money to the US to take over a commercial mortgage that will yield 6%. What would the tax implications be for me as a UK tax payer?
Hello, I'm Keith and happy to help you with your question.

As a UK domiciled and resident, which I assume you are, you are liable for taxation on all income world wide. Moving money to the States does not in itself create any tax liability in the UK, the position in the US is a matter beyond my expertise.

By taking over the commercial mortgage you are buying an investment. The mortgage yield to you will be subject to Income Tax as investment income in the UK. Any tax deducted by the USA would be allowed as a credit against any UK taxation under the double taxation treaty between the two countries.

I do hope I have been of help to you in answering this question.
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