Hi,
I would hugely appreciate any advice regarding a life plan which I have. I'm British and have worked full time as a self-employed yoga teacher for several years. I of course declare all my income (which is on the modest end of things) via self-assesment.
I fancy a change of scene and wish to spend a year working in Germany. To help finance this temporary move, I'll be renting out my flat in the UK. Where it gets tricky is with taxation - I obviously want everything all square and I have these questions:
Once in Germany:
- On my UK tax return, I imagine I need to fill it out as per usual (most of the income will simply be flat rental) with the addition of the foreign pages - is that the case?
- I will need to register in Germany for a tax number once I have completed my registration of residence.
- Do I also put the income from my UK flat rental on the German tax return? I'd rather not pay tax twice.
- Would it be advisable to have both a UK accountant and a German accountant due to the extra complexity? I'm rather used to doing things myself to save money.
- I do speak German proficiently, however the tax-related language is a little outside my knowledge base.
Any thoughts most welcome!
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