UK Non-resident Landlord self-assessment

Wales4rugbyWC23
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Joined: Mon Sep 16, 2019 1:30 am
Location: Fukuoka

Re: UK Non-resident Landlord self-assessment

Post by Wales4rugbyWC23 »

Bubblegun wrote: Thu Jul 18, 2024 1:22 am
Wales4rugbyWC23 wrote: Wed Jul 17, 2024 9:47 pm
Bubblegun wrote: Wed Jul 17, 2024 3:27 pm

Thanks for that.
Would you say in tax terms this "IMPACT" as positive or negative to you and your family?

How much would an accountant be?
Very much positive the last couple of years it has been losses we've carried over to our tax return, so it has reduced our Japanese taxable income. We run a business, and I have used an accountant from day one, with our bookkeeping and tax returns. When I bought the flats, I asked her to put them through the Japanese tax return. She did not charge us anything more. I don't actually know how much a Japanese accountant would charge for helping with your tax return with foreign rental income.
OK. Thanks for that. Any clue on how how the japanese tax office assumes property devaluation, when the property increases, or is it just a querk of apply japanese devaluation system to the purchase price of the home in the other country.

I really am clueless on that, there might be more knowledgeable people on this forum, who may be able to answer that question. I do know that the depreciation rules changed a few years ago for foreign owned property. The most informed person for would be that guy who run the Japan Finance on Reddit.

I know I might sound like a broken record player, but with the reporting of foreign rents it really is best to get a Japanese accountant to help you out.
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