J Milne
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RE: Depreciation and interest
Thankyou for your help. I have one further question.. As I moved to the UK on the 3rd of June do I need to declare my foreign rental income from the 6th of April up until the day I moved to the UK even though I was still living in australia ? I've read that split year treatment case 4 relates to my situation in some way. Do I disregard those 2 months prior to moving to the UK for my tax return ? Thankyou -
RE: Depreciation and interest
Hi, thanks for your response. Im still a little confused as box 36 - residential financial costs. It says "the costs of getting a loan or alternative finance to buy a residential property and any interest on such a loan or alternative finance payments can be used to calculate a reduction in income tax" "Put the amount of any costs, interest and alternative finance payments in the box" Does this not mean I should enter the amount of interest paid on my mortgage for this tax year into box 36? Thankyou. -
Depreciation and interest
I have rental income from my property in australia and I'm wondering if im able to and if so how to add in appreciation value into my foreign rental income on my self assessment ? Also if interest on my mortgage is allowed to be included into my self evaluation for my foreign income? I've read that interest isn't accepted on a UK rental property but in the foreign income section there's an option to add interest on a mortgage for rental property? As interest is deductible on my Australian tax return does that mean it's allowed for UK tax return?