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 bigduckontax Your Own Question
bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4203
Experience:  FCCA FCMA CGMA ACIS
75394688
Type Your Tax Question Here...
bigduckontax is online now

I bought a flat in Turkey and have a bank account with HSBC

Resolved Question:

I bought a flat in Turkey and have a bank account with HSBC out there .. not enough in it to earn interest. All done with my taxes UK earnings. Do I need to declare. I am not earning an income from it just draining my UK bank account in repairs?
Submitted: 1 month ago.
Category: Tax
Expert:  bigduckontax replied 1 month ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

If you are not earning income from this property or bank account then no declaration is needed. You should emulate Brer Fox, 'For he lay low and say nuffin!' In any event the first 1K of deposit income is now tax free.

I do hope that I have been able to set your mind at rest on this matter.

Customer: replied 1 month ago.
Thank you that is a relief
Expert:  bigduckontax replied 1 month ago.

Delighted to have been of assistance.

Please be so kind as to rate me before you leave the Just Answer site.

bigduckontax and other Tax Specialists are ready to help you
Expert:  bigduckontax replied 1 month ago.

Thank you for your support.