thanks kimo//

Have you guys sigend your contracts yet?
I've received mine and have read it. Everything seems quite normal and I didnt notice anything unusual. I wondered what you guys thought?

Thanks

Hi,

I didn't see anything that would be a particular problem..

There was a clause regarding part payment of the amount owed on the 15 year plan that looked a bid odd. It seemed to imply that there would be some kind of cost to be applied at the seller's "discretion". Anyway, I have been assured that there is no penalty for early payment.

I was pleased to see a penalty clause on the seller for finishing the developement late... although it does have to be late by more that 18 months

Thanks anil

I didn't notice the late completion penalty. It was late night I was reading it i suppose i have to read it again

Hello
I am just about to sign my contrat for a studio appartment in the pacific development and was just wondering if anyone could advise if it would be better for a high tax band earner to buy the property via a 'company' to avoid paying 40% on rental or income for sales if i brought the money back into the uk?

Also does anyone know what service select can provide in finding people to rent the apprtments...

Thanks

Atish

hi i checked with the inland revenue and they told me that all i would pay is capital gains tax (18%), which you declare on your tax return form, when selling the property. as a UK citizen you must pay tax on your worldwide capital gains. BUT you do NOT also have to pay income tax, even if you bring the money back to UK...they don't make you pay twice! you have an allowance of approx £9000 a year which is non-taxable, so I have put my property in two names, to effectively double the non-taxable allowance. this is the case for when you sell your property.

i've just re-read your post and i'm not too sure about the tax situation on rental income (silly me!).

I suggest you contact your tax office yourself to confirm this, as i may have been given wrong information.

I believe Select will be offering the service of renting out the apartment for you. But this still 3 years to go.

I was told studios in Pacific have sold out - is this true?

capital gain tax is flat rate 18% from this april on sale of yr property.u also have a capital gain allowance of £9000.if the property is on two names u get the double allowance. u can show yr property as a holiday home for personal use.after getting residence visa u can have current acct in UAE which gives u a debit card.u can withrow money from cash machine in any part of the world.u know what i mean.

Is it true the studios are sold out now?