Leaving a rented property in the UK
#1
Forum Regular
Thread Starter
Joined: Oct 2006
Location: Christchurch
Posts: 44
Leaving a rented property in the UK
I'm wondering if anyone can tell me how this works re: tax, etc in the UK. We are going to keep a property in the UK (that we rent out to a tennant) and I am really unsure what I need to do re the inland revenue / tax etc. Does anyone else have experience of this? Would we still need to fill in a tax return even though we'll be residents of another country? I'm confused.
I'm just looking for some information and I don't know where to start. If anyone can point me in the right direction, that would be really appreciated.
Also, what about people's UK pensions and investments, do I need to do anything with them or can I just leave them alone for now?
Any help appreciated.
Thanks.
I'm just looking for some information and I don't know where to start. If anyone can point me in the right direction, that would be really appreciated.
Also, what about people's UK pensions and investments, do I need to do anything with them or can I just leave them alone for now?
Any help appreciated.
Thanks.
Last edited by miss_ck; Aug 14th 2007 at 2:40 pm.
#2
Forum Regular
Joined: Oct 2004
Posts: 104
Re: Leaving a rented property in the UK
I'm wondering if anyone can tell me how this works re: tax, etc in the UK. We are going to keep a property in the UK and I am really unsure what I need to do re the inland revenue / tax etc. Does anyone else have experience of this? Would we still need to fill in a tax return even though we'll be residents of another country? I'm confused.
I'm just looking for some information and I don't know where to start. If anyone can point me in the right direction, that would be really appreciated.
Also, what about people's UK pensions and investments, do I need to do anything with them or can I just leave them alone for now?
Any help appreciated.
Thanks.
I'm just looking for some information and I don't know where to start. If anyone can point me in the right direction, that would be really appreciated.
Also, what about people's UK pensions and investments, do I need to do anything with them or can I just leave them alone for now?
Any help appreciated.
Thanks.
You will need to fill in your p86 to let them know you are leaving. If you have money in a savings account in the UK you can fill in an R102 and give it to the bank and then you wont get taxed on savings.
As far as i can tell UK based investments paying dividends will be taxable in the UK as income as will your rent from property although if there is a mortgage on the property that is tax deductable, and you obviously get your tax allowance.
Any income earned abroad is not taxable in NZ for the first 4 years which could come in handy for you.
#3
Forum Regular
Thread Starter
Joined: Oct 2006
Location: Christchurch
Posts: 44
Re: Leaving a rented property in the UK
I am no expert but I have been looking at this as well.
You will need to fill in your p86 to let them know you are leaving. If you have money in a savings account in the UK you can fill in an R102 and give it to the bank and then you wont get taxed on savings.
As far as i can tell UK based investments paying dividends will be taxable in the UK as income as will your rent from property although if there is a mortgage on the property that is tax deductable, and you obviously get your tax allowance.
Any income earned abroad is not taxable in NZ for the first 4 years which could come in handy for you.
You will need to fill in your p86 to let them know you are leaving. If you have money in a savings account in the UK you can fill in an R102 and give it to the bank and then you wont get taxed on savings.
As far as i can tell UK based investments paying dividends will be taxable in the UK as income as will your rent from property although if there is a mortgage on the property that is tax deductable, and you obviously get your tax allowance.
Any income earned abroad is not taxable in NZ for the first 4 years which could come in handy for you.