Suzie

Thanks for your reply. Unfortunately I have now gone full circle with no help. I started with HMRC Live Chat last week... they said I needed to contact the self assess helpline... I spent a very long time on hold this week, then finally got through to be told I needed to put a post on the FORUM.... and now you have sent me back to where I started ? This is very frustrating. I know this query does not fit into the yes/no answers from HMRC helpsheets which is why we are contacting you...we just want to get it right. 

Thank you - I have looked at the HS263. It only deals with when UK and Overseas taxes are paid in the same tax year. It does not tell me what to do when the UK taxes were paid on the 22/23 tax return and the Greek tax was paid in the 23/24 tax year (which was after the property was sold in 22/23 and all income ceased 22/23 as well)

A property was rented out as a furnished holiday let in Greece and rental income and expenses recorded on self assessment tax returns. It was sold. 22/23 tax year was when it was assessed for capital gains tax and was also the last year that any income was received as a furnished holiday let. Self assessment returns have been submitted for 22/23 and capital gains and income tax already paid to HMRC. In 23/24 the Greek tax authorities raised a tax assessment for prior years and 23/24 was the first time Greek taxes were paid to the Greek authorities. We have details of the type of tax under Greek law and it looks like some are income tax and some are capital gains tax related. How can these taxes paid to the Greek authorities in 23/24 be offset against taxes paid in the UK when there will be no property pages in use for the 23/24 self assessment tax return. Thank you for your help

With all units being sold in Feb 2024 there were some additional costs incurred on the solicitors completion statement that are causing query if they can be claimed against income tax, capital gains tax or not at all. We have looked at the CG15250 that you referred to in your answer above and are still not sure on the following numbered 1 - 3. 1. Indemnity insurance cost. The indemnity insurance covered a vehicle turning circle within the premises boundaries that the units are on and was requested by the buyer's solicitor. 2. A sum paid to the buyer on completion date in respect of roof repair works that will be needed on one of the units in the future. 3. Nine months rent refund paid to the tenants in one of the units by way of compensation because the buyer was becoming their new landlord and terms for them under the new landlord were different. These historic costs numbered 4 - 6 have never been claimed against income tax when renting out. Can they be claimed against capital gains on the disposal? 4. Land registry charges to register the mortgage back in the 1980's 5. Arrangement fee charged by the bank for the mortgage back in the 1980's 6. Valuation fee, not when sold in 2024 but paid to surveyors at the request of the bank in year 2002 because the bank wanted to monitor the current value at that time for secured lending purposes on the mortgage in the 1980's

Thank you for your help .

Feedback .

COMMERCIAL PREMISES SOLD – consisted of 4 units, all rented out to businesses I would like to know if the electric, water and rates costs for Unit 1 detailed here can be claimed: 1. Against disposal for capital gains calcs 2. Against rental income received 23/24 tax year against units 2,3,4 3. Cannot be claimed at all Unit 1 was rented out until 31.3.23. It was empty with no tenants from 1.4.23 until the whole premises comprising units 1,2,3 and 4 were sold Feb 2024 Unit 1 incurred electric, water and rates bills from 1.4.23 whilst empty and until sold Feb 2024 Units 2 and 3 and 4 continued to be rented out until sold Feb 2024 and the rental income and expenses for these will be accounted for on our 23/24 self assessment that we do.