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Where Taxpayers and Advisers Meet

Rental Property abroad

nairda
Posts:1
Joined:Wed Aug 06, 2008 3:02 pm

Postby nairda » Sun Feb 16, 2003 12:00 am

I became ordinarily resident in the UK for the whole year and have a rental property in Australia.

The outgoings on this property exceed the rental income and I was wondering what I could do with the losses in my UK tax return. Specifically, can I use the losses to offset my salary income?

Regards,
Adrian

Ian McTernan CTA
Posts:1232
Joined:Wed Aug 06, 2008 3:02 pm
Location:Bedford
Contact:

Postby Ian McTernan CTA » Sat Feb 22, 2003 12:00 am

Rental income losses only allowable aganist rental property profits of the same class of rental, so no. Also, if you are not domiciled in the UK and the income from this source is not remitted to the UK, then not taxable in the UK.

Regards.

Ian McTernan CTA

Eamil:ian@imcternan.com
McTernan Associates Ltd
Chartered Tax Advisers
Bedford
Email through link on website:
http://www.imcternan.com


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