He is a dual UK-US citizen resident in the US, whereas I have been splitting my time between both countries. I have a Green Card, but I am retired and do not have any income in the US. We both pay taxes on our share of our rental property in the UK to HMRC, and he files a 'married filing jointly' return to the IRS.
My husband has a defined benefits pension from his past employment in the UK, and I am trying to figure out how to assess its cash-value. Do we need an actuarian for this, or is there a simpler/cheaper way? If the former, do I just pick someone based on a Google search, or is there something specific we need to look out for?
Regarding the jointly owned flat: I understand that he can transfer this to me while we are still married, or in the year of separation, without incurring any CGT liability. However, CGT would be charged if the transfer occurs after the end of the tax year in which we separate. Is this correct?
But how is separation defined? As far as HMRC are concerned, we have been 'married but living separately' for several years - so how do we prove that, until recently, ours was nevertheless an ongoing and viable marriage? Do we even need to prove this?
Is there is anything else we need to bear in mind? I am feeling a bit lost and would be grateful for any kind of information that might be useful.
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Moved to Taxes [leaving a link] - Chris
Moved to Taxes [leaving a link] - Chris