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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 16579
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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How much tax should I pay on the profit of a UK rental when

Customer Question

How much tax should I pay on the profit of a UK rental when I live abroad and pay local tax.
Assistant: Which tax year is this for?
Customer: 2017/18 and 2018/19
Assistant: Anything else you want the Accountant to know before I connect you?
Customer: Im an expat living in Mala
Submitted: 12 days ago.
Category: Tax
Expert:  TonyTax replied 12 days ago.

Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.

Expert:  TonyTax replied 12 days ago.

As you appear to be a UK national the first £12,500 of your UK rental income will be tax free. The next £37,500 will be taxed at 20% and the next £100,000 at 40%. You lose your personal allowance at the rate of £1 for every £2 of income over £100,000.

I hope this helps but let me know if you have any further questions.

Customer: replied 12 days ago.
Why do you think they have charged me 20% on just 7000
Expert:  TonyTax replied 12 days ago.

Are you a UK national? Did you complete a UK tax return?

Expert:  TonyTax replied 12 days ago.

Did you complete the SA109 pages in which you claim the persona allowance?

Expert:  TonyTax replied 12 days ago.

If you have the HMRC tax calculation, can you blank out the personal information and scan and upload it to me using the paperclip tool.

Expert:  TonyTax replied 12 days ago.

Do you have a UK pension from a government department that you worked for?