Rental property in UK-----can you switch tax to Canada only
Sep 26th 2019, 4:28 pm
#1
BE Enthusiast
Thread Starter
Joined: Mar 2009
Posts: 331
Rental property in UK-----can you switch tax to Canada only
Hi,
As stated I have a rental property in the Uk which I pay tax on in the UK and have an accountant that handles it for me. He informed me regardless of my expat status I have to pay UK tax on it.
Moving on from another thread it was hinted at that this was incorrect as I can file a form with UK Tax and pay it here in Canada as world wide earnings. I also receive a small UK military pension that I again pay tax on in the UK.
These are both filed here in Canada with a local accountant and I have received partial rebates on them. I am wondering if I can or should cut ties to the UK and concentrate all my affairs here in Canada.
This maybe more practical but is it financial better or even feasible.
I appreciate anybody taking the time to reply.
Thanks.
lamin
As stated I have a rental property in the Uk which I pay tax on in the UK and have an accountant that handles it for me. He informed me regardless of my expat status I have to pay UK tax on it.
Moving on from another thread it was hinted at that this was incorrect as I can file a form with UK Tax and pay it here in Canada as world wide earnings. I also receive a small UK military pension that I again pay tax on in the UK.
These are both filed here in Canada with a local accountant and I have received partial rebates on them. I am wondering if I can or should cut ties to the UK and concentrate all my affairs here in Canada.
This maybe more practical but is it financial better or even feasible.
I appreciate anybody taking the time to reply.
Thanks.
lamin
Sep 26th 2019, 7:49 pm
#2
BE Enthusiast
Joined: Dec 2010
Location: Whitby, Ontario
Posts: 730
Re: Rental property in UK-----can you switch tax to Canada only
I think it was more at hinted at. We were advised to complete that NRL form that was mentioned on the other thread, which had to be sent to CRA who stamped it to return to HMRC, who then accept that CRA collect the tax due. Similarly our pensions are paid gross in the UK, so we declare within our worldwide income in Canada, so it’s added to the pot to be taxed. I can’t remember the procedure for that but presume we advised the UK company of our residency change at the time.
It seems more compIicated to do as you’re doing - we keep spreadsheets detailing our UK income and expenditure and use Turbotax to file our returns - it’s straightforward apart from the slight complication of changing £ to $.
I still think the advice from your UK accountant is incorrect - have you referred the NRL form to them?
It seems more compIicated to do as you’re doing - we keep spreadsheets detailing our UK income and expenditure and use Turbotax to file our returns - it’s straightforward apart from the slight complication of changing £ to $.
I still think the advice from your UK accountant is incorrect - have you referred the NRL form to them?
