Tax on overseas property lettings

th4s · #1 (**permalink**) 25th May 2007, 02:58 AM

Tax on overseas property lettings
If you live and pay tax in the UK you must declare rental income from overseas property lettings on the foreign pages of your tax return. If you pay foreign tax on the income, you can usually get credit for this against the UK tax you have to pay on it.
Declaring income from overseas property lettingsYou have to declare any income you get from overseas property lettings on the supplementary foreign pages of the Self Assessment tax return.

How much tax you'll pay depends on whether you're 'resident' in the UK and 'ordinarily resident' or 'domiciled':
Resident
if you're in the UK for 183 days or more in a tax year, you're a 'resident' for that year for tax purposes
if you come to live in the UK permanently or to remain for three years or more you're resident from the date of arrival
you're also treated as resident if you're in the UK for an average of 91 days or more in a tax year (worked out over a maximum of four consecutive tax years)
Ordinarily resident
if you're resident in the UK year after year you will normally be treated as 'ordinarily resident'
you're treated as ordinarily resident in the UK from the date you arrive if it's clear that you intend to stay for at least three years

synthia · #2 (**permalink**) 26th May 2007, 06:09 AM

Do you have to declare all your overseas income? In the US, you must declare it all, and if you are considered 'resident' abroad or are out of the country for all but 30 days out of a 365 day year, not necessarily a calendar year, then you get an $80,000 tax exemption. Anything over that is taxable in the US, and you can deduct any local income tax from your US taxes.

giantpanda · #3 (**permalink**) 6th August 2007, 03:47 PM

Quote:

Originally Posted by th4s

Tax on overseas property lettings
If you live and pay tax in the UK you must declare rental income from overseas property lettings on the foreign pages of your tax return. If you pay foreign tax on the income, you can usually get credit for this against the UK tax you have to pay on it.
Declaring income from overseas property lettingsYou have to declare any income you get from overseas property lettings on the supplementary foreign pages of the Self Assessment tax return.

How much tax you'll pay depends on whether you're 'resident' in the UK and 'ordinarily resident' or 'domiciled':
Resident
if you're in the UK for 183 days or more in a tax year, you're a 'resident' for that year for tax purposes
if you come to live in the UK permanently or to remain for three years or more you're resident from the date of arrival
you're also treated as resident if you're in the UK for an average of 91 days or more in a tax year (worked out over a maximum of four consecutive tax years)
Ordinarily resident
if you're resident in the UK year after year you will normally be treated as 'ordinarily resident'
you're treated as ordinarily resident in the UK from the date you arrive if it's clear that you intend to stay for at least three years

Hi!

In France, you would have first to declare it in France. Then if you were a UK resident, you would then declare the gross income and the taxes paid in France. ( not locally, but at the Centre des Non-Résidents - 10, rue du Centre 93465 NOISY le Grand Cedex Téléphone standard : 33 1 57 33 83 00

That should be the case in many countries.

Yours,

giantpanda

martijnvandenbergh · #4 (**permalink**) 20th September 2007, 08:57 AM

You can also search in Google for VATfree NL, maybe it`s a good new idea?

Thanks for searching!

Greetings from the Netherlands