James wong
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Rental income from oversea property
I came to the UK in June 2022 via BNO visa and become the tax resident at the time I arrived UK. I had a property in Japan with rental income. I would like to ask: 1) If I apply for split the year, Should I just report and count the rental income from the time I arrived UK? 2) The rental income should be counted for the time letting out (e.g. from the time I stayed in the UK) or the rental received in bank account (since the rental is transferred from the agent on quarterly basis after deduction of all relevant expense) during the time I stayed in the UK? 3) If the total rental is less than GBP2,500, do I need to report the rental income? 4) The property in Japan has been sold out in Jan 2023 with loss, do I need to do a tax report for this transaction?