Chasiu
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Finance charge and property tax paid abroad
Hi, I am a UK tax resident. For the 2022/23 tax year, it is my first time to submit a self assessment and the first year I am receiving a rental income from a property in Hong Kong. My questions: 1) Do I just need to put down the total finance costs (ie. interest paid for the mortgage for the property to let) for the 2022/23 period in Box 24.1 'Residential property finance costs' on the SA106 paper form? The 20% expense allowance will be deducted from my taxable income afterwards? 2) As the property has been rented out less than a year and I do not receive any property tax demand to be paid in Hong Kong yet. In this case, should I just put down '0' in Column C 'Foreign tax taken off or paid' of Page F4 of SA106 paper form? Your help is very much appreciated. Chasiu