Renting you house

Old Jan 29th 2014, 10:02 pm
  #46  
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Default Re: Renting you house

Originally Posted by Frenchy2004
Possibly, but sounds like your domicile/residency has been confirmed or did you work it/figure it out yourself. But, if you're not sure, seek accountancy advice as HMRC can come knocking, long after and you/we might find ourselves hunting for paperwork and using our memory etc :/
It's history (past tense)
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Old Jan 29th 2014, 10:51 pm
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Default Re: Renting you house

Originally Posted by Frenchy2004
I know, I have just posted that link above. What part of it are you referring to and for who, you or me?
I was posting it for Dunrovin actually.
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Old Jan 29th 2014, 11:13 pm
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Default Re: Renting you house

Originally Posted by Editha
I was posting it for Dunrovin actually.
My apologies there oops

If we go abroad again, the house will remain untenanted for sure.

Last edited by Frenchy2004; Jan 29th 2014 at 11:19 pm.
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Old Jan 30th 2014, 6:54 am
  #49  
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Default Re: Renting you house

Originally Posted by Editha
I was posting it for Dunrovin actually.
Sorry, what were you posting for me?
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Old Jan 30th 2014, 1:47 pm
  #50  
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Default Re: Renting you house

Originally Posted by dunroving
Sorry, what were you posting for me?
LOL.

I posted the link to the Inland Revenue page that listed the categories of people who have to file an income tax return. It was in response to your query about whether you had to, and Frenchy's response that you should get accountancy advice, which seemed a bit OTT to me.
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Old Jan 30th 2014, 4:52 pm
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Default Re: Renting you house

Originally Posted by Editha
LOL.

I posted the link to the Inland Revenue page that listed the categories of people who have to file an income tax return. It was in response to your query about whether you had to, and Frenchy's response that you should get accountancy advice, which seemed a bit OTT to me.
Editha, I don't feel that my advice to seek professional advice was OTT at all. In a court of law remember "Ignorance is no excuse". In fact, I was merely quoting what HMRC recommend/state on their own website. If in doubt, either contact HMRC OR an accountant, but before the deadline of 31st of march. It states that if you fail to submit a filing and and HMRC deem you should have, there is penalties AND any tax due. What is any of the above OTT??

Just to add, you have had many problems/issues yourself with HMRC from one of your replies to my comments (a rant as you called about HMRC) AND you're still not sorted with matters arising from those problems. I would sooner be OTT and go seek legal/accounting advice and be sure, than be in your position at the moment. Enough said on my part and I'll let you 'rant on'

This info decides by HMRC (not me) whether you are classed as 'Self Employed' and liable to register and file a Self- Assessment tax return or not, voila!
Working out if you are self-employed

People who work for themselves are seen as as self-employed. This means that they have to register with HMRC and pay their own tax and National Insurance contributions. To help you work out whether you are self-employed, here’s some pointers to help you.
You are likely to be regarded as self-employed if you answer yes to one or more of these questions:
Do you regularly work for a number of different people and require a business set up (for example invoicing for work you've done) in order to do so?
Can you hire someone to do the work, or take on helpers at your own expense?
Can you decide where to provide the services of the job, when to work, how to work and what to do?
Can you make a loss as well as a profit?
Do you agree to do a job for a fixed price regardless of how long the job may take?
Do you risk your own money?
Do you provide the main items of equipment (not the tools that many employees provide for themselves) needed to do the job?
Do you have to correct unsatisfactory work in your own time and at your own expense?
Do you receive rents or other income from land or property?
This is not a complete list and if you're still unsure whether you need to pay tax or not you can contact HMRC to find out.
Contact HMRC

Here's the link should Editha or any other member wishing to read it fully on the HMRC website:
http://www.hmrc.gov.uk/undeclaredinc...ax-affairs.htm

If you live abroad and rent out a property in the UK, you are classed as a non resident landlord and will file your return with 3rd party software or by using an accountant to file it for you online, as SA105 and SA109 pages are not on the regular online filing form.

Last edited by Frenchy2004; Jan 30th 2014 at 6:00 pm. Reason: Further info
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Old Jan 30th 2014, 7:42 pm
  #52  
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Default Re: Renting you house

Let Property Campaign from HMRC and launched in December 2013. The campaign is aimed at anyone who has gained an income from property and not declared it. It is basically your chance as landlord to own up and pay up and the campaign will last 18 months.

Here's the link/s and good luck to those of you who haven't declared the income, thought they knew the rentals laws and taxation, as now is your chance to declare or you might find a knock on your door or letter on your mat, Bon Chance

http://www.litrg.org.uk/News/2013/Let_Property_Campaign

https://www.gov.uk/let-property-campaign
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Old Feb 2nd 2014, 1:32 am
  #53  
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Default Re: Renting you house

This has been a very informative thread, with excellent information & links concerning issues I hadn't even got close to thinking about.

Research continues. With a much better framework ;-)

(For info, I didn't find the HMRC site too bad to navigate & understand, other than its inclination for circular links!)

Thank you all ! :-)
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Old Feb 24th 2014, 7:14 pm
  #54  
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Default Re: Renting you house

Originally Posted by Shirtback
This has been a very informative thread, with excellent information & links concerning issues I hadn't even got close to thinking about.

Research continues. With a much better framework ;-)

(For info, I didn't find the HMRC site too bad to navigate & understand, other than its inclination for circular links!)

Thank you all ! :-)
Ditto the above.
Fantastic amount of information. I have decided to hire an accountant to go through this minefield and sort the finances out.
Sorry I didn't reply sooner. My head's all fuzzy; sorting my things, shipping, Visa.....
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Old Feb 24th 2014, 7:41 pm
  #55  
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Default Re: Renting you house

Frenchy. The problems I have had with HMRC are entirely to do with the fact that if one of their staff adds 2 + 2, they usually get the answer 5. Personally, I don't need to employ an accountant to teach me simple arithmetic.

One thing I'm quite certain of is that I am currently domiciled in Canada and any income I earn is taxable in Canada. I don't need to pay an accountant to tell me that either.
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