Tax Questions

Collapse

Forums Topics Posts Last Post
No forums found.
  •  
  • Filter
  • Time
  • Show
  • New Topics
Clear All
new posts
There are no conversations in this channel.
 
  • Filter
  • Time
  • Show
Clear All
new posts
Please log in to your account to view your subscribed posts.
  •  
  • Filter
  • Time
  • Show
  • Sort By
  • Order
Clear All
new posts
Topics Statistics Last Post
Started by bchadwick, 17-12-2010, 10:10 AM
9 responses
6,612 views
0 likes
Last Post jjlandlord  
Started by johnjw, 09-09-2010, 09:23 AM
6 responses
1,816 views
0 likes
Last Post Phlash
by Phlash
 
Started by benlee82, 16-12-2010, 12:36 PM
2 responses
1,107 views
0 likes
Last Post jeffrey
by jeffrey
 
Started by Into the unknown, 13-12-2010, 16:16 PM
22 responses
3,968 views
0 likes
Last Post Ericthelobster  
Started by Poj McDodge, 08-12-2010, 13:50 PM
7 responses
1,757 views
0 likes
Last Post Telometer  
Started by andybiochem, 09-12-2010, 00:12 AM
6 responses
2,320 views
0 likes
Last Post Telometer  
Started by ppitch999, 05-12-2010, 17:35 PM
3 responses
1,921 views
0 likes
Last Post ppitch999  
Started by Rothschild, 08-12-2010, 00:09 AM
2 responses
4,196 views
0 likes
Last Post Telometer  
Started by cma, 03-12-2010, 22:26 PM
12 responses
2,504 views
0 likes
Last Post cma
by cma
 
Started by nicktyke, 24-11-2010, 21:29 PM
23 responses
3,733 views
0 likes
Last Post TaxationPete  
No topics found.
banner

Latest Topics

Collapse

  • New to Renting out my property - Some tax questions
    by mucker973
    Hi All,
    I have a property I used to manage myself. The tenant paid me directly and I never declared it with the taxman. Going forward I have decided to use a letting agent to manage all of this. I currently reside abroad and when filling in the forms there is question which essentially is asking...
    24-06-2022, 07:39 AM
  • Reply to New to Renting out my property - Some tax questions
    by DoricPixie
    Your tax situation in Australian depends on whether you’re a permanent resident/citizen or a temporary resident. If you’re a temporary resident you find yourself in tax sweet spot where HMRC doesn’t care about your Australian income and assets and the ATO doesn’t care about your UK income and...
    24-06-2022, 14:29 PM
  • Reply to New to Renting out my property - Some tax questions
    by Gordon999
    If you are living overseas, you must register as a non-resident landlord using NRL1 form to Tax Office if you receive rental income from a UK property. If you don't register , the letting agent is required to deduct 25% tax on any rental money paid to you.

    After being registered...
    24-06-2022, 09:31 AM
  • Reply to New to Renting out my property - Some tax questions
    by jpkeates
    https://www.gov.uk/government/public...g-a-disclosure

    There's a "not quite an amnesty" operating at the moment.
    24-06-2022, 09:02 AM
  • Reply to New to Renting out my property - Some tax questions
    by mucker973
    Thanks JPkeates, I knew you'd know!

    I've been thinking of reporting it for a while. If I declare these past "earnings" do you think I'll just have to pay the tax (if there is any) or do you think there will be any penalties? Penalties are usually applied when you are caught out...
    24-06-2022, 08:47 AM
  • Reply to New to Renting out my property - Some tax questions
    by jpkeates
    I don't know what the situation is with Australian tax on UK rented property, and you'd probably better enquire locally.

    There are two different things to address.
    If you've been receiving income and not declaring it, you need to own up and pay what you owe - which sounds like nothing...
    24-06-2022, 08:32 AM
  • Reply to New to Renting out my property - Some tax questions
    by Covent Garden Girl
    Your questions are more complicated than you imagine.

    1) Yes, firstly as a non resident landlord, the agent or indeed tenants have to deduct tax at source, or you have to send off a form, but also wait for HMRC to send confirmation that they think it is okay for you not to have the tax...
    24-06-2022, 08:17 AM
  • Are utility bills tax-deductible?
    by Bigpat
    I've had a buy-to-let on a standard Assured Shorthold Tenancy for a few years and my tax return has been pretty simple. But since last year I have also had two lodgers, staying with me at my own residential property. Now I have purchased a small additional property, which I have moved into myself and...
    21-06-2022, 14:26 PM
  • Reply to Are utility bills tax-deductible?
    by jpkeates
    Even if you don’t need a licence, managing an HMO can be quite onerous. You’ll need a fire risk assessment, and then to comply with its requirements as a first step.

    That usually means fire retardant doors, different door locks, hard wired fire and smoke and heat alarms for a start....
    24-06-2022, 07:08 AM
  • Reply to Are utility bills tax-deductible?
    by Bigpat
    Thanks. Yes I checked the local authority who said that only "large" HMOs have to be licensed, and that counts as 5 or more tenants.

    I had no idea that separate TV licences would be required. How do HMO landlords usually handle this?
    (a) should I purchase three additional...
    23-06-2022, 21:38 PM
Working...
X