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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 16711
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: 4 months ago.
Category: Tax
Expert:  TonyTax replied 4 months 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 4 months 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 4 months ago.
Why do you think they have charged me 20% on just 7000
Expert:  TonyTax replied 4 months ago.

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

Expert:  TonyTax replied 4 months ago.

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

Expert:  TonyTax replied 4 months 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 4 months ago.

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

Expert:  TonyTax replied 4 months ago.

Do you still need help? If so, please answer my request for information so that I can give you an answer.