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Where Taxpayers and Advisers Meet

Losses on overseas rental

LoriT
Posts:2
Joined:Mon Feb 13, 2017 11:58 am
Losses on overseas rental

Postby LoriT » Mon Feb 13, 2017 12:03 pm

Hello, we are planning to return to London following time abroad. With all the new budgetary measures on property taxation, please could you advise whether we can offset losses from our property abroad against our salary/wage income when we put it on rent and return to the UK? Thank you

section 44
Posts:4467
Joined:Thu Oct 30, 2008 12:47 pm

Re: Losses on overseas rental

Postby section 44 » Mon Feb 13, 2017 4:02 pm

no

LoriT
Posts:2
Joined:Mon Feb 13, 2017 11:58 am

Re: Losses on overseas rental

Postby LoriT » Tue Feb 14, 2017 12:44 pm

Thanks.
Please can someone advise whether we return our gross rents from overseas or net rents from overseas in our self assessment?
I understand that with the new taxation legislation, landlords will be taxed on their gross rents/turnover instead of net rents.


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