RetireJapan

We are just setting up a new NISA in my wife's name.
She does not have her own income.
She is Japanese.

Should we limit the annual amount that we put in this to the 1.1 million JPY that will be free of gift tax? or should we go for the max 3.6 million JPY if we can afford it?

Thanks for your comments, and for explanation of the calculation, Tkydon. I had not considered the difference in FX rate at time of purchase vs time of sale, so that makes a difference ie. makes the gain and CGT even greater. Will investigate further about liability for Japan CGT even when resident ...

Why don't you just live of the rental income??? That is what I am planning to do. That's definitely an option. But it feels like it would just be kicking the problem further down the road, and someone is going to have to deal with it sooner or later. If we keep the properties until I die, I doubt m...

I'm prepared for the UK CGT. I just want to try to avoid the huge CGT I would have to pay in Japan if resident here. 2 properties in UK with potential total sale value of 1.3M GBP. Gain over purchase price of approx. 600k @ 24% CGT = 144k GBP in UK. (If I can get away with using the gain since 2015,...

Yes, I'm prepared for the UK CGT. I just want to avoid the Japan CGT, which would be huge. 2 properties with potential total sale value of 1.3M GBP. Gain from 2015 of approx. 400k = CGT in UK of 96k @ 24% However if Japan resident, as the properties are fully depreciated and now assumed to have zero...

[/quote][/quote]

Wales4rugbyWC23 wrote: ↑Thu Feb 27, 2025 1:35 pm You would also have the issue of Capital gains tax in the UK because you can only claim primary residency if you have continually lived there. As above posts have said best to consult with accounting professionals. It might get complicated in both the UK ans Japan.

Thanks for your reply Deep Blue. I've seen many of your comments on different topics in the forum, so am happy to get your thoughts. I have an accountant who has given me some advice. What other professional advice could I consider? Why do you think it's easier for you not having PR? As I've lived i...

Hi, new to the forum and first time posting. I'm a UK national, long term resident of Japan with PR, and a Japanese spouse. Several years ago, before the loophole was closed, I used the depreciation on my property in UK to offset my income tax here in Japan. I'm now possibly just entering retirement...