UK Income from Property Rental where invest

Bubblegun
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Re: UK Income from Property Rental where invest

Post by Bubblegun »

Wales4rugbyWC19 wrote: Mon Feb 28, 2022 5:23 am
Bubblegun wrote: Mon Feb 28, 2022 2:42 am
Wales4rugbyWC19 wrote: Mon Feb 28, 2022 12:54 am

I am a little unsure who 'them' are HMRC or the Japanese tax office?
Sorry Should have been clearer...
"Them" being Japans tax office. I already declare everything to the UK.
I will be honest I was of the same mindset with (not) telling the Japanese tax office but have just put my buy to lets through with my Japanese tax return and got a big stonking loss. Notable business expenses that you can go against your rental income are stamp duty and mortgage interest not available in the UK any longer.

There is a lot more cooperation between the different national tax authorities so it is best to keep things above board.
That's good information there. May I ask if any of your properties were your main residence in the UK? Mine was my UK main residence.
I only have one in the UK, and the plan was to return to the UK...but like all of Baldricks cunning plans.... not quite realized.LOL
Baldrick. Trying to save the world.
Wales4rugbyWC23
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Location: Fukuoka

Re: UK Income from Property Rental where invest

Post by Wales4rugbyWC23 »

Bubblegun wrote: Mon Feb 28, 2022 2:55 pm
Wales4rugbyWC19 wrote: Mon Feb 28, 2022 5:23 am
Bubblegun wrote: Mon Feb 28, 2022 2:42 am

Sorry Should have been clearer...
"Them" being Japans tax office. I already declare everything to the UK.
I will be honest I was of the same mindset with (not) telling the Japanese tax office but have just put my buy to lets through with my Japanese tax return and got a big stonking loss. Notable business expenses that you can go against your rental income are stamp duty and mortgage interest not available in the UK any longer.

There is a lot more cooperation between the different national tax authorities so it is best to keep things above board.
That's good information there. May I ask if any of your properties were your main residence in the UK? Mine was my UK main residence.
I only have one in the UK, and the plan was to return to the UK...but like all of Baldricks cunning plans.... not quite realized.LOL
No I bought then when I was in Japan. If you want to claim the main resident capital gains tax status for your main residence I think you have to be residing in the UK. I think that was a recent change.
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