Taxation on abroad property

[R34]

Hi,

I'm looking for some advice on a taxation of a foreign property.

Im currently looking into buying a house in France, my country of origin. This house will provide no income (it will be rented for free to my parents, as they both have very low income), but will be bought out of a loan.

To make sure I understand fully the financial consequences of such an acquisition, could you help me understand what would be the taxation in the UK of such an investment? I've been living her for 6 years, about to get my citizenship, and planning on spending most of my future here.

Thanks for your help,
Regards

[pawncob]

If there's no income, you can ignore it for Income Tax purposes.

[R34]

Hi,

Thanks a lot for your prompt reply.

Could you confirm what would have happened if I was receiving a rent from the property? Would some dual taxation relief apply, assuming, I would be paying taxes in France?

Thanks again.

[pawncob]

As you are UK resident you'll pay tax on income from France. If income is taxed in France as well you'll get DTR on that tax.