How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask taxadvisor.uk Your Own Question
taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5028
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

I have a second property in another EU country. It is rented

Resolved Question:

I have a second property in another EU country. It is rented through the year and I pay tax on the income in the local country. I want to bring some of the profit back to the UK. Am I obliged to pay any tax on that?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.

Hello and welcome to the site. Thank you for your question.

Please advise -
Are you UK resident for tax purposes?

As UK resident for tax purposes, you are taxed on your world wide income and gains. You have suffered local tax on that rental income, you would claim foreign tax credit relief against tax on that income in the UK.

You declare this property income by completing supplementary page SA106 - Foreign when filing your tax return.

More information on this can be found here

https://www.gov.uk/government/publications/self-assessment-foreign-sa106

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

taxadvisor.uk and other Tax Specialists are ready to help you