Davide Di Domenico
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Foreign Income
Hello I am a double citizen of Italy and UK, and I would like to rent my house in Italy on AirBNB/Booking. I have a full time permanent job here in the UK, and that's my only income to pay rent and bills. I want to rent the property to get an extra income each month, but I want to avoid at all costs double-taxation from both countries. I want to pay the taxes for my income here in the UK, how can I do that? Do I have to register for self assessment? Also I'm wondering if my PAYE status will affect the taxation of my income from aboard. What I mean is, if my foreign income is under 12570£ a year, do I have to pay 20% on that? Now I'm earning 34.000£ a year from my job, so I'm over the personal allowance already. I got more questions but these are the most important for now, thank you very much to everyone who can help me to understand better how it works.