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bigduckontax, Accountant
Category: Tax
Satisfied Customers: 9033
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I have a simple enquiry regarding any remotely possible UK

Customer Question

I have a simple enquiry regarding any remotely possible UK tax implication there may be in a situation where the UK resident (Rachel) is the beneficiary of a New Zealand Family Trust and that family trust is going to purchase a UK residential property. Our lawyer in New Zealand has indicated there are no impediments at all regarding the NZ Family Trust being able to embark upon an overseas investment and purchase a UK residential property. However, they have suggested that we just triple check (under privilege) IF there could be any foreseeable UK personal tax implication for the primary beneficiary? Based on our understanding we feel there isn't as it is the NZ entity (Trust) that is going to purchase a UK property and the UK resident will reside in and rent that property from the NZ trust.Are you able to advise if you can assist/clarify this matter for us?
JA: Have you talked to a tax professional about this?
Customer: No
JA: Anything else you want the Accountant to know before I connect you?
Customer: That is all. Thanks
Submitted: 11 months ago.
Category: Tax
Expert:  Nicola-mod replied 11 months ago.
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Customer: replied 11 months ago.
I am happy to continue to wait for an answer.
Expert:  bigduckontax replied 11 months ago.

Hello, I am one of the experts on Just Answer and pleased to be able to help you wit your question.

None whatsoever, the suggestion is perfectly feasible. The ownership of most of Central London properties by external organisations has been the subject of much adverse comment!