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Posted Tue, 12 Nov 2024 17:44:47 GMT by Suzie
A property was rented out as a furnished holiday let in Greece and rental income and expenses recorded on self assessment tax returns. It was sold. 22/23 tax year was when it was assessed for capital gains tax and was also the last year that any income was received as a furnished holiday let. Self assessment returns have been submitted for 22/23 and capital gains and income tax already paid to HMRC. In 23/24 the Greek tax authorities raised a tax assessment for prior years and 23/24 was the first time Greek taxes were paid to the Greek authorities. We have details of the type of tax under Greek law and it looks like some are income tax and some are capital gains tax related. How can these taxes paid to the Greek authorities in 23/24 be offset against taxes paid in the UK when there will be no property pages in use for the 23/24 self assessment tax return. Thank you for your help
Posted Thu, 14 Nov 2024 16:22:50 GMT by HMRC Admin 19 Response
Hi,
You can claim Foreign Tax Credit Relief in respect of the Greek tax paid and amend the tax return. You can see information here:
Relief for Foreign Tax Paid 2024 (HS263)
Thank you.
Posted Fri, 15 Nov 2024 15:52:15 GMT by Suzie
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