I have recently moved back to the UK (dual UK/US citizen), and am starting to house hunt.
The problem is, I already have a home in the USA and am not selling it. It is currently being rented out.
I am therefore subject to an additional 5% Stamp Duty Land Tax (SDLT) on a home purchase.
"any individual who owns a property outside the UK will be subject to this surcharge if they purchase a new property in the UK"
This has got me considering placing my US property into an LLC over there. Would that then mean I no longer own a property? Of course that will come with complications around taxes (whether a US LLC is opaque or not). I'd probably at this time not withdraw any income from the rental business, just use it to build up for repairs/running costs etc.
If anyone knows of good resources about this complex topic, I'd really appreciate it.