Florian
Joined: 7/7/2023
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Bank account fee: Allowable expense in SA106?
Hello, Given a bank account with a monthly fee (~£3 per month), dedicated only to operations linked to a foreign rental property; would the cost be an "allowable property expense" to be deducted in SA106? Thank you, Best wishes. -
Perpetual account accruing interest until closure: when to declare them?
Hi, I have a bank account that has been accruing interests for more than 15 years. It's a special king of foreign account (from the EU) where interests are reinvested and the money cannot be accessed until closure. There is no time limit as to how long the account can be kept open. I am not sure as to when to declare these interests. My understanding from the "Savings and Investment Manual" is that if the money cannot be accessed, they don't have to be declared until closure. However, does that mean that I would have to declare the whole 15 years worth of interest at closure on SA106, even though I have not been a UK tax resident for that long ( -
RE: Foreign rental income: how to consider land tax
Hi, Thank you for this. I do expect this was a typo and you meant "box F2 on SA106" and not "SA108". Furthermore, If I enter the amount of the tax in box F2, should I still report the tax paid in box C "Foreign tax taken off or paid" of page F4 and then had an 'X' in the same row in column E to claim FTCR? Many thanks. -
Private mortgage insurance: Allowable expense in SA106?
Hi, Given that the SA106 notes state: " You can claim expenses such as: • rents, rates, insurance and ground rents [...] " Would you consider a private mortgage insurance (mandatory in the foreign country where I purchased a property) to be an allowable expense in form SA106? Many thanks. -
Foreign rental income: how to consider land tax
I have a property which is rented in France but I am a fiscal resident in the UK. I am aware that I have to report this income using SA106. However, I am not sure how to consider the "taxe foncière" already paid to the french administration. This is a separate tax than the income tax. " Property tax on built properties (TFPB) You own or usufructuary of built properties? You have to pay property tax on built properties (TFPB). There are exemptions related to the property or the person who owns it. We present you with the information you need to know." -- from https://www.service-public.fr/particuliers/vosdroits/F59?lang=en -- Is that to be considered an expense and can be deducted in case 17 of page F4 of SA106 or is that a foreign tax taken off (Box C on page F4)? Thank you.