SM27

Thank you for your reply. So, have I got this right now? Using Pounds for my fictional figures : Spanish income from FHL rental = £9,000 Spanish tax already paid at 24% = £2,160 (no deductions allowed in Spain). Calculated allowable expenses = £4,000 Gross income goes in SA105, UKP 1, Box 5 - £9,000 All allowable deductions in SA105, UKP 1, Box 9 - £6160 (£4,000 + £2,160) (If your total property income (Including FHL income) before expenses is below £85K, you can just add up your FHL expenses and put the total in Box 9.)

I was told that if your total income is under £10,000 and your income after allowable deductions is £2,500 then it is not necessary to fill a self assessment. I now realise that I have accidentally misinterpreted this and now realise that I need to make a worldwide declaration for foreign income from property. Firstly, would HMRC view a genuine misinterpretation as an excuse for not filling a declaration, or would they view this as careless behaviour? Secondly, Everything has been properly declared and paid abroad, as it would have been in this country if I had understood my obligations correctly, and due to the double taxation agreement I believe that no additional tax is due in the UK. I have read that any tax due must be paid and the appropriate fine would be double the tax paid. Since no tax is due so doubling this is not possible, would there be a different fine for the accidental non declaration? I am very worried that I may miss something else and get into more trouble.

Thank you

Or the gross income minus deductibles?

This is my query too - please may I check that I've understood it correctly. So here are some fictional figures for my calculation: Spanish income from FHL rental = € 9,000 Spanish tax already paid at 24% = € 2,160 Total unclaimed deductions = € 4,000 So do I minus the deductions from the income eg € 9,000 - € 4,000 = € 5,000 Then recalculate the Spanish tax on this new figure of € 5,000 at 24% = € 1,200 and enter € 1,200 in the FTCR box? Thanks

Hi, I want to update my tax credits online to include income from property abroad (a Furnished Holiday Let in the EEA) What figure do I enter? The gross income or the gross income minus the Spanish Tax I've already paid? Thanks

Thanks. Please advise if I'm doing the following right. I filled out my online tax return and printed it out. All amounts converted from Euros to Pounds. This is the FHL section: Box 5 - I entered my gross income Box 6 - I entered the insurance and services provided amounts Box 8 - I entered my Spanish accountant fees Boxes 13 and 15 - the adjusted profit appeared Where do I put the foreign tax paid? Does it go in this section or in the Summary of Income from land and property abroad? (Box 28) Thanks

Hi, Very new to all this, so please bear with me. I have inherited an apartment in Tenerife. It is let through an agency. As I understand it, since Brexit I can't deduct expenses over in Tenerife but I can in the UK? So would any of the following be deductable? *Legal fees (paid for tax return in Tenerife) *Letting agent fees *Community fees (maintenance of grounds) *Contents insurance for the apartment *Bank charges for having a bank account in Tenerife to pay the bills *Replacement items - kettle, boiler, beds, TV, etc *Fumigation * Local tax (Housing tax – Impuesto Sobre Bienes Inmuebles (IBI)) * Agencia Tributaria Canaria IGIC *Water bill *Electric bill Many thanks