Hi,
I have some properties in Switzerland which bring a rental income. I pay taxes in Switzerland on them, and then declare the income on my UK tax return. I use the cash basis when working out income and expenses - so I just look at my bank statements to see what money has come in and what has gone out in the April-April period. How do I work out FTCR though? Should I work out FTCR on a cash basis as well - i.e. the tax bills that I have paid in the April-April period? Because of the way the Swiss tax year works (January-December) and the fact that different taxes (Cantonal, Communal, Federal) are paid in instalments at different times, the tax I pay in Switzerland in a particular UK tax year may not actually correspond to the income I have had in that year. Or should I claim Swiss tax for FTCR on an "accruals" basis - trying to work out what tax I have been charged on the income I had in that year (even though the money may not have actually left my account during that financial year)?
Thank you for your advice!
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