Hi,
First time posting on this forum, and wish to say thank you to anyone who can offer advise to our position.
Myself, wife and 3 kids are contemplating moving to start a new life in the USA. We are investigating visa'a at present and think we may start a business utilising Inheritance my mother left me when she passed. The inheritance was way below the IHT threshold so no tax to pay.
We have a house in the UK which we plan to keep, but let. We have 2 ways to do this 1) Through Airbnb, Homeaway etc that could deliver higher returns and 2) Through a regular estate agent, who has advised the house should net approx £2300 per calendar month - the rental income from this house is to be used to pay for a rental in the USA.
I am not sure if myself and/or my wife would still avail of our personal allowance (£23,700 between us both). Our property could net in £27,600 per year, so would we just be liable for 20% tax on £3900 ?
Thanks,
Richard
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