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UK Rental Tax Filing

UK Rental Tax Filing

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Old Sep 13th 2014, 2:51 pm
  #1  
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Default UK Rental Tax Filing

Hi All,

It seems like quite a few of you are in the same boat as me and your only UK income is that from renting out your house or flat. I am filling out the UK tax forms for the first time and I was wondering if anyone would be willing to help me? At the moment it doesn't seem like I have many of the boxes populated, and that seems correct, but I would love to verify with someone that has filed before.

The one specific question I have is if I am just declaring rental income and it is below the personal allowance limit, do I need to fill out anything else regarding dual taxation and my income in the US?

Thanks!

Steven
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Old Sep 13th 2014, 3:12 pm
  #2  
 
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Default Re: UK Rental Tax Filing

The UK does not tax you on income outside the UK once you become nonresident, so do not include anything about your US income, or any other income outside the UK.
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Old Sep 13th 2014, 8:04 pm
  #3  
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Default Re: UK Rental Tax Filing

You need to fill out the relevant section of the return to demonstrate non-residence. Then, as someone else has said, you only include U.K. income - rent, bank interest, etc.

The British government is strongly considering withdrawal of the personal allowance for non-residents, starting with the 2015/16 tax year. If this goes ahead you will likely have a U.K. tax bill in future years, and you will need to include a form 1116 (Foreign Tax Credit) to claim a credit on your U.S. federal tax return.
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Old Sep 16th 2014, 11:30 pm
  #4  
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Default Re: UK Rental Tax Filing

Thank you both for your advice. It has made completing the forms a lot less daunting.
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