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if you are on a low income and they still
Deals_2
Posts: 2,410 Forumite
means test you ...what does this actually mean? if the person owes a run down property abroad with debts owing on it - how does this work ? will the council want something out of it if they ever sell up? even though they will pay tax in that other country?
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means test you ...what does this actually mean? if the person owes a run down property abroad with debts owing on it - how does this work ? will the council want something out of it if they ever sell up? even though they will pay tax in that other country?
Sorry, you need to give more information. Means test you for what?0 -
but an old run down proeprty abroad not sold yet.Oldernotwiser wrote: »Sorry, you need to give more information. Means test you for what?0
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The property would be counted as capital, and a figure allocated to it accordingly.Gone ... or have I?0
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Are you talking about means tested benefits?0
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I'm not sure what you mean by 'will the council still want something out of it if you have already paid tax in another country'?
The property as it stands would have a value allocated to it as dmg24 says. If you ever sell up, any money that you get from the sale will be counted as capital for means-tested benefits purposes.
If you are asking whether you will have to pay Capital Gains Tax on it in the UK if you have paid it in another country, I think the answer is no, providing that country has a dual taxation arrangement with the UK. However this is nothing to do with means testing (nor the Council, for that matter).
What question are you actually asking?(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
another country and you have no income coming in as yet in the uk if you fill in a form to get a lower amount of council tax - once the house is sold (if it gets sold!!) will they wanting some money of that sale (even though also paying capital gains tax in another country for it? really trying to understand how this means testing actually works.seven-day-weekend wrote: »I'm not sure what you mean by 'will the council still want something out of it if you have already paid tax in another country'?
The property as it stands would have a value allocated to it as dmg24 says. If you ever sell up, any money that you get from the sale will be counted as capital for means-tested benefits purposes.
If you are asking whether you will have to pay Capital Gains Tax on it in the UK if you have paid it in another country, I think the answer is no, providing that country has a dual taxation arrangement with the UK. However this is nothing to do with means testing (nor the Council, for that matter).
What question are you actually asking?0 -
When the house is sold, any money you get from it (after taxes etc) will be counted as capital and if it is over £6000 it will begin to affect any means-tested benefits you have such as Council Tax Benefit . You may not get as much Benefit as you did before. If it is over £16000 you won't be able to claim any means-tested benefits at all.
Hope this helps.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0
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