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Did you move from the UK to Canada? Are you a citizen of an EEA country?
You are liable for UK income tax(IT) on your net rental income ie 50% of the rentals. As a citizen of an EEA country you are entitled to the normal Personal Allowance (PA), currently 12.5K. When you moved to Canada did you send a Form P85 to your UK tax office?
Itis not quite as simple as that. Here is the list of normal deductions you can make from rental income, source: Which:
'Some examples of allowable expenses you can claim are:
gas and electricity
landlord insurance costs of services, including the wages of gardeners and cleaners (as part of the rental agreement)
letting agents' fees
legal fees for lets of a year or less, or for renewing a lease of less than 50 years
ground rents and service charges
direct costs such as phone calls, stationery and advertising for new tenants
The expense should be incurred wholly and exclusively as a result of renting out your property.'Read more: https://www.which.co.uk/money/tax/income-tax/tax-on-property-and-rental-income/allowable-expenses-and-allowances-atdn93l9wyqp - Which?
Correct, although if you use a letting agent tax could still be being deducted.
This income could be subject to Canadian Tax also and you will have to rely on the Double taxation Treaty between the two countries, which precludes the same income stream from being taxed in both jurisdictions. This is achieved by means of tax credits, the tax deducted in one country being allowed as a tax credit against liability in an other.
On the contrary it is relatively simple and well within most people's ability.
Yes, but only at the basic rate of taxation, 20%.
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Don't forget the P85, belt and braces so to speak. It is available on the web and can be filed online.