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Posted Sun, 02 Jun 2024 19:42:29 GMT by Bart Stry
Hello I am dual national living in the UK since 2015. Do I have to pay tax on foreign income which is a property rental if the money is never transferred into the UK and 100% stays abroad in my native country?
Posted Wed, 05 Jun 2024 12:56:38 GMT by HMRC Admin 25 Response
Hi Bart,
By default, you are required to declare your world-wide income using the arising basis.
This means that you need to declare your foreign property income and claim a Foreign Tax Credit of up to 100% of the foreign tax paid.
The alternative is you claim the remittance basis and only declare your UK income and any remitted income.
Have a look at section 9 of RDR1:
Guidance note for residence, domicile and the remittance basis: RDR1.
Whichever option you chosse, both options are declared on a Self Assessment tax return.
Thank you. 

 

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