HMRC Admin 17 Response
Joined: 1/20/2021
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RE : allowable expenses for Overseas Landlords NRLS
Hi ,
Thank you for your question, please see the relevant guidance to your query at :
PIM4810 - Overseas landlords - summary of the non-resident landlord scheme
which states- Income or Corporation Tax remains chargeable on UK rental income even where
the landlord is non-resident for other UK Tax purposes.
No Double Taxation Conventions transfer this right to any foreign authority.
If the rental income is again charged to tax in a person’s country of residence, then that country may allow double taxation relief.
Therefore the full amount of rental income must be declared on your UK tax return,
please consult with the Italian tax authorities to check if foreign tax credit relief will be available.
Thank you . -
RE: Rental income from limited company. Passive or Active
Hi ,
You can contact the HMRC Technical team via our usual addresss,
Pay as You Earn and Self Assessment,
HM Revenue and Customs,
BX9 1AS
or telephone 0300 200 3310 .
Thank you . -
RE: Rental income tax
Hi ,
Thank you for your question.
I can advise you that you can claim the full £1000 property allowance against last years 3 months income.
Thank you . -
RE : Residential Property Finance Costs Relief
Hi ,
Thank you for your question.
The finance costs incurred in earlier years should have been shown on your returns for earlier years.
If these were unused you would then show them as caried forward.
You will need to amend your earlier years returns to include the financial costs incurred each years and
confirm the amount carried forward each year.
In the current year you can claim the financial costs incurred in 2024/25 in box 44 and
then enter the the unused relief from earlier years in box 45.
Thank you . -
RE: Finance Costs - allowable expense?
Hi ,
Thank you for your question.
If the loan taken out from remortgaging your own property was used 'wholly and exclusively' for the
property business then you would be able to claim relief on the interest paid on this loan per the guidance at
PIM2052 - Deductions: interest: overview .
I am unsure what you mean about trading (flipping) property ?
Thank you . -
RE : Repair Costs Against Rental Income
Hi ,
Thank you for your question.
Roof repairs to a rental property can be offset against the rental income received as you have described.
More information on this can be found at :
PIM2020 - Deductions: repairs: contents .
Thank you . -
RE : FHL and Declaration of Trust
Hi ,
Thank you for your question.
You are correct in thinking that the Form 17 is not suitable.
Where there is no partnership, the share of any profit or loss arising from jointly owned property will normally be the same
as the share owned in the property being let.
But joint owners can agree a different division of profits and losses and so occasionally the share of the profits or losses will be different from the share in the property.
The share for tax purposes must be the same as the share actually agreed.
Further guidance can be found at :
PIM1030 - Introduction: jointly owned property & partnerships .
Thank you . -
RE: IS A REPAYMENT SUPPLEMENT DUE FOLLOWING DELAYED REFUND OF OVER-PAID TAX?
Hi ,
Yes repayment supplement not due until after 31 January following the tax year the repayment is for.
Thank you . -
RE: Tax statement does not take into account tax already paid
Hi ,
To advise you correctly here, we would need to confirm what the amendments to your code have been calculated for, and
what income the Payments on Account calculated are based on.
To allow us to do this, contact us by webchat or phone via :
Self Assessment: general enquiries .
Thank you . -
RE: PAYE + side business
Hi ,
You may already be registered for Self Assessment.
To allow us to confirm this for you, and provide any further advice, we may need to review your record -
contact us by webchat or phone via :
Self Assessment: general enquiries to allow us to do this.
Thank you .