Molko1974

We've been very silly and not realised about paying tax on the rent we are getting from our UK property. I'm sure we filled in some form to do with tax but just can't remember. We use an Estate Agent in the UK.

We've been renting our UK property for about 3 years. What do we do? Anyone know what forms we need to fill in to clear up what we have failed to declare?

paddyo

Go to HMRC website and download form NRL1. It allows a non domiciled UK home owner to avoid UK taxation. Not sure how long you can backdate it for though. Your estate agent should of told you this when you started leasing it out.

JAJ

The original poster may be asking about Australian tax.

paddyo

ah....ok.....my initial talk with our company tax specialist has led me to believe that as my received rent is less than my mortgage payments, therefore I am making a loss and not income, it will not incur tax in Aus, in fact it may even help!!

Molko1974

I remember filling this out. Have been looking online, we only get a profit of 900.00 pounds per year.

Molko1974

I'm asking about the property we have in the UK and UK tax. There is so much info I am totally confused. But looking online we don't make enough profit for tax (I think)

Grayling

You will be liable for Australian tax on all your worldwide income including rental income from the UK.

There is a double taxation agreement with the UK so you are taxed in your country of residence.

G

Molko1974

Boo hoo

Grayling

The rules are different for temporary visa holders.

G

Geelong Gent

Depends I'm not, nor are a number of my friends

Geelong Gent

thanks

Molko1974

My husband has just spoken to the tax office. If we had to pay tax they would have contacted us as we gave them a contact address. She said we don't get enough income.

Molko1974

I'm not temporary.

Grayling

Which tax office....the UK or Australian one?

G

Molko1974

UK. We are still going to talk to our tax lady here in Oz as we are also planning on selling our UK house to buy here. He asked about Capital Gains Tax, she said we don't pay that either as we lived in the property.