UK Tax Return
May 12th 2012 | 12:58 pm
#1
Thread Starter
BE Enthusiast
Joined: Sep 2005
Posts: 449
From: Hallett Cove,Adelaide
UK Tax Return
Hi guys,
I am in the process of completing my UK tax return and was after a bit of advice as to what i am or am not entitled to claim.
The reason for completing a uk return is due to the fact that i have:-
A:- a rental property in the uk
and B:- uk bank accounts paying moderate interest
I pay the tax on the interest at the bank and then reclaim this in my tax return and also declare my rental income in the tax return.
What i am not sure of is what else i should be offsetting against my rental income etc such as insurance,costs of advertising.
Any advice would be gratefully appreciated as i do not have total confidence in my uk accountant that i am claiming everything that i should !!!!
Cheers,
Swagman
I am in the process of completing my UK tax return and was after a bit of advice as to what i am or am not entitled to claim.
The reason for completing a uk return is due to the fact that i have:-
A:- a rental property in the uk
and B:- uk bank accounts paying moderate interest
I pay the tax on the interest at the bank and then reclaim this in my tax return and also declare my rental income in the tax return.
What i am not sure of is what else i should be offsetting against my rental income etc such as insurance,costs of advertising.
Any advice would be gratefully appreciated as i do not have total confidence in my uk accountant that i am claiming everything that i should !!!!
Cheers,
Swagman
May 12th 2012 | 1:20 pm
#2
Retired
Joined: Apr 2004
Posts: 34,646
Re: UK Tax Return
You can find lots of information at http://www.hmrc.gov.uk
If you don't have confidence in your UK accountant, why do you keep using the service? Find another accountant or do it yourself.
You do have do declare everything on your Australian tax return, unless (in some situations) you are a temporary resident.
If you don't have confidence in your UK accountant, why do you keep using the service? Find another accountant or do it yourself.
You do have do declare everything on your Australian tax return, unless (in some situations) you are a temporary resident.
May 12th 2012 | 2:36 pm
#4
Lost in BE Cyberspace
Joined: Feb 2009
Posts: 14,284
From: UK
Re: UK Tax Return
Hi guys,
I am in the process of completing my UK tax return and was after a bit of advice as to what i am or am not entitled to claim.
The reason for completing a uk return is due to the fact that i have:-
A:- a rental property in the uk
and B:- uk bank accounts paying moderate interest
I pay the tax on the interest at the bank and then reclaim this in my tax return and also declare my rental income in the tax return.
What i am not sure of is what else i should be offsetting against my rental income etc such as insurance,costs of advertising.
Any advice would be gratefully appreciated as i do not have total confidence in my uk accountant that i am claiming everything that i should !!!!
Cheers,
Swagman
I am in the process of completing my UK tax return and was after a bit of advice as to what i am or am not entitled to claim.
The reason for completing a uk return is due to the fact that i have:-
A:- a rental property in the uk
and B:- uk bank accounts paying moderate interest
I pay the tax on the interest at the bank and then reclaim this in my tax return and also declare my rental income in the tax return.
What i am not sure of is what else i should be offsetting against my rental income etc such as insurance,costs of advertising.
Any advice would be gratefully appreciated as i do not have total confidence in my uk accountant that i am claiming everything that i should !!!!
Cheers,
Swagman
May 13th 2012 | 6:34 am
#5
Forum Regular
Joined: Jan 2012
Posts: 96
Re: UK Tax Return
I wouldn't bother with an accountant for this. It's easy to do it yourself.
Main items are: interest on loan, insurance premiums; nominal amount for electricity/phone/stationery for running your letting business; any repairs/maintenance; letting agency fees or advertising/credit reference checks if doing it yourself; accountant costs (in your case); 10% wear and tear allowance (I think).
Main items are: interest on loan, insurance premiums; nominal amount for electricity/phone/stationery for running your letting business; any repairs/maintenance; letting agency fees or advertising/credit reference checks if doing it yourself; accountant costs (in your case); 10% wear and tear allowance (I think).
May 13th 2012 | 8:45 am
#6
Lost in BE Cyberspace
Joined: Feb 2009
Posts: 14,284
From: UK
Re: UK Tax Return
I wouldn't bother with an accountant for this. It's easy to do it yourself.
Main items are: interest on loan, insurance premiums; nominal amount for electricity/phone/stationery for running your letting business; any repairs/maintenance; letting agency fees or advertising/credit reference checks if doing it yourself; accountant costs (in your case); 10% wear and tear allowance (I think).
Main items are: interest on loan, insurance premiums; nominal amount for electricity/phone/stationery for running your letting business; any repairs/maintenance; letting agency fees or advertising/credit reference checks if doing it yourself; accountant costs (in your case); 10% wear and tear allowance (I think).
