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Is Declaration of Trust applied for non-UK residents?
Good afternoon. I moved to the UK in 2013. In 2016, my parents gifted me a house which they had let from 2007. My parents and I agreed verbally that even though I am owner of the house, they would still collecting rents (as this is their income a part from low pensions) and looking after the house. I have never received any rents. Please could you advise if I need to declare and pay tax on letting income in the UK? If I want to formally form the agreement that my parents have all income (as it's true), can the Declaration of Trust be used? My parents are not British and not UK residents while I am UK resident. Many thanks -
RE: Declare foreign incomes for previous years
I've made a notification to HMRC. How long should I expect to hear from them do you know? Many thanks for your help. -
Declare foreign incomes for previous years
Hi, I have been in the UK for 11 years. I have been paying tax for my works in the UK. Every year I have income from saving interests and dividends in bank accounts and companies in my home country, some years I had less and some years I had more than £2,000. I misunderstood the rules that I did not need to declare those incomes as I have never brought the money into the UK. I registered to do Self Assessment and could complete the form for 2023-24 and included the foreign income in 2023-24. Please could you advise how I can declare the foreign incomes in other years in the past? Thank you