james59

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Question on foreign tax regarding an EEA rental property. I have a holiday house in Portugal. I am a UK resident etc. I have a rental licence and declare paid guests to SEF and the tax authorities in Portugal. I paid Euro 474 last year in Portugal tax for my rentals. In the UK I declare my EEA rental home, However, I made a loss on my home of £8000 for UK tax purposes so no tax due in the UK. Can I claim back the Euro 474 tax I paid in Portugal from HMRC ? If not can I carry it forward to offset against UK tax in future years? Please let me know Many thanks James

Question on foreign tax regarding an EEA rental property. I have a holiday house in Portugal. I am a UK resident etc.I have a rental licence and declare paid guests to SER and the tax authorities in Portugal. I paid Euro 474 last year in tax for my rentals. In the UK I declare my EEA rental home, However, I made a loss on my home of £8000 for tax purposes so no tax due in the UK. Can I claim back the Euro 474 tax I paid in Portugal from HMRC ? If not can I carry it forward to offset against UK tax in future years? Please let me know James

In 2014 my daughter and I bought a flat for £140,000. The legal title was in both our names and she had 99% equity interest and I had 1%. In 2017 my daughter sold me her 99% interest valued at £235,000.Capital gains tax paid on the sale to me of her interest. Now, following her break up with her boyfriend, selling the house they are in, she wants to buy the same flat from me at £210,000 (the market price). If I sell her the flat at £210,000 and in say 3 years time she sells the flat at £250,000. Is the gain for tax purposes for her £40,000 or is it a different amount as she is a connected person? Also if I sell her the flat at £210,000 ,I have lost £25,000 (ignoring the 1%). Is it a taxable loss of £25,000 or is it a different amount as she is a connected person? All transactions are or would be at market prices. Please let me know Thank you