Hello
We are a married couple in our 60's, largely retired, in the process of purchasing a small condo in Arizona for winter use as a holiday home. It might generate rental income but probably not much unless circumstances change.
Could you advise the best way to hold the title taking account of UK and USA taxation.
We are both UK basic rate tax payers and are likely to remain that way although one of us is close to the upper limit but is able to manage retirement income to some extent by leaving more reinvested for the future.
UK inheritance tax is not likely to be an issue although could become so in future with other inheritances received.
We have a small partnership business which could be incorporated in future, skills are available in-house for that sort of work including book keeping and small company accounts. It does not have much taxable income , even less if we are wintering overseas.
Thank you
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