Tax on UK Apartment

Tidyweb

I have an apartment in the UK, but living in Ireland. The aprtment is rented out through an agency.

Does anyone have any advice on how to deal with the income tax issue.

Should I just keep my head down? pay the UK income tax? pay the irish income tax?

Any advice gratefully received.

CIARAN_BOYLE

Tidyweb wrote: »

I have an apartment in the UK, but living in Ireland. The aprtment is rented out through an agency.

Does anyone have any advice on how to deal with the income tax issue.

Should I just keep my head down? pay the UK income tax? pay the irish income tax?

Any advice gratefully received.

You should be paying the uk income tax and the irish income tax.

Tidyweb

Both taxes - how does that work

CIARAN_BOYLE

Tidyweb wrote: »

Both taxes - how does that work

You declare it in the UK and get whatever you paid in the UK as a tax credit when you declare it in Ireland

Alan Shore

Where are you domiciled, as non doms qualify for the remittance basis.

Tidyweb

I live and pay income tax in Ireland

HeidiHeidi

You can get a declaration that you'll pay the tax here, and that exempts you over there.

Forget the exact mechanics of applying for it, I did it years ago - but if you're doing tax returns/paying tax here, that's the simplest way of doing it.

Inland Revenue UK (or whatever they're called) should be able to advise you.

Tidyweb

Is it better to pay in one or the other and will it have impacts when I sell.

To be honest I was hoping to just keep my head down!

dbran

Hi

Article 4 of the double tax treaty makes property situated in the UK subject to UK tax firstly and also Irish tax with a credit given for any UK tax suffered. You cannot opt to pay tax in the country of your choosing in this regard.

If you are a non resident landlord there is a scheme that operates in the UK with regard to the payment of UK tax on UK rental income. The tax is paid over quarterly.

http://www.hmrc.gov.uk/international/nr-landlords.htm#2

You need proper professional advise also.

Regards


dbran

dbran

Tidyweb wrote: »

To be honest I was hoping to just keep my head down!

So why ask the question:rolleyes:

Mr. Incognito

Tidyweb wrote: »

Is it better to pay in one or the other and will it have impacts when I sell.

To be honest I was hoping to just keep my head down!

I think you should read the charter.

Any reference to tax avoidance is a straight ban. You owe tax, you pay the tax.