Tax on UK rental income
Jul 22nd 2012, 10:22 pm
#1
Just Joined
Thread Starter
Joined: Jul 2012
Posts: 3
Tax on UK rental income
(The following assumes UK rental income was received for the year ending Dec 31st 2011)
I understad one can claim a tax credit for tax paid in the UK.
However, UK tax on rental income received during the period Aril 5th to Dec 31st 2011 may not be paid until the 2011/12 Self Assessment deadline of 31st January 2013 which is way AFTER the IRS deadline (assuming extension) of Oct 31st 2012.
So, in the above example how is one supposed to offset the UK tax that will be paid (and that has not yet been paid) against ones 2011 US return?
Very confusing...
I understad one can claim a tax credit for tax paid in the UK.
However, UK tax on rental income received during the period Aril 5th to Dec 31st 2011 may not be paid until the 2011/12 Self Assessment deadline of 31st January 2013 which is way AFTER the IRS deadline (assuming extension) of Oct 31st 2012.
So, in the above example how is one supposed to offset the UK tax that will be paid (and that has not yet been paid) against ones 2011 US return?
Very confusing...
Jul 22nd 2012, 11:04 pm
#2
Retired
Joined: Apr 2004
Posts: 34,649
Re: Tax on UK rental income
First question is - will you have any U.K. tax to pay?
Normally with the personal allowance (any reason why you might not be entitled to it?) a single rental property does not give rise to enough income to cause a U.K. tax liability.
Normally with the personal allowance (any reason why you might not be entitled to it?) a single rental property does not give rise to enough income to cause a U.K. tax liability.
