international property owner

UK residents owning property overseas are required to report any income from the letting of the overseas property to HMRC. However most international Double Tax Agreements grant first taxing rights on income from real property to the jurisdiction where the property is situated. It is, therefore, essential that your UK tax return is prepared taking account of any foreign tax paid in the overseas jurisdiction, in order to avoid¬† “double” taxation.

Most overseas jurisdictions use a calendar year as their fiscal year and care needs to be taken regarding the amount and timing of the foreign tax credit claimed against your UK tax bill. We have years of experience of preparing tax returns for overseas property owners and we can provide a fixed quote for the preparation of your UK tax return to deal with the issue of the foreign tax credits. All our global partners can offer a tax return preparation service in their particular locations for your overseas property.

If you are not resident in the UK but own property in the UK, you may be required to file a UK tax return if the property is let out. We can prepare and submit applications to HMRC under the Non-Resident Landlord’s Scheme to ensure your UK rents are paid to you without deduction of tax at source and, for a fixed fee, we can prepare your UK tax return reporting this income.¬† Furthermore, we offer a discount for the filing of husband & wife/partner UK tax returns, where the property is jointly owned.