John Smith 33

For how many years can unused residential finance costs (mortgage interest) be carried forward? I am a UK resident who is non-UK domicile and have claimed the remittance basis the 7 fiscal years before last fiscal year, that is from 2014-15 to 2020-21. I received foreign rental income and paid mortgage interest all these years. I did not remit any foreign income. So, I did not pay UK tax on my foreign rental income all these years. I did not declare any unused residential finance costs in my Self Assessments from 2014-15 to 2020-21. 2021-22 is the first year I am going to pay tax on my foreign rental income.

Hi, If I use the cash basis to declare foreign rental income in the Self Assessment, can I also use the cash basis to claim Foreign Tax Credit Relief for the foreign tax? Thanks