Property Insestments in the UK

[Jamboal]

Hi all,

I'm sure I will get the response i require from you good people, after about 14 years of planning we are moving out September time next year and to contribute towards funding our new life we will have 2 rental properties in the UK, couple of questions do we have to pay tax in the UK? If yes will we be entitled to the standard tax allowance?

Regards,

Allan.

[jeba]

I guess (because my (German) tax consultant told me that it´s an international standard practice) that you won´t benefit from the standard tax-free allowance. I certainly don´t as far as my German-sourced income is concerned.

[Jamboal]

Hi Hudswell/Jeba,

Thanks very much for your response which was very helpful.

Allan.

[Royal]

I guess (because my (German) tax consultant told me that it´s an international standard practice) that you won´t benefit from the standard tax-free allowance. I certainly don´t as far as my German-sourced income is concerned.

At present, the UK allows the standard tax free allowance to apply even if rental income is the sole income and the Landlord is non-resident in the UK. There have been rumours of this changing in the future, but at present it is still the case.

[Jamboal]

Thanks Royal,

Hopefully it doesn't change too soon!

Allan.