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8th March 2007, 09:29
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#2
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happy member
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Re: New Tax (Rental) Guide
Thanks immac. Early on I decided not to rent out my property. However page 10 of this document worries me it seems that even if you don't charge friends and some relatives to stay there you are liable to income tax on what the rental would be. I'm going to have to read this several times before I get it as I'm having a blonde morning.
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8th March 2007, 14:35
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#3
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Member
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Re: New Tax (Rental) Guide
Hi all, many thanks Immac for the link. Will have a good read of the document. Thanks again Bim
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8th March 2007, 15:17
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#4
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Senior Member
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Re: New Tax (Rental) Guide
i think Gordon Brown wrote this
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8th March 2007, 15:42
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#5
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Official Efes Taster
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Re: New Tax (Rental) Guide
Tks Ian - a very good reference document
C
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8th March 2007, 20:27
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#6
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Senior Member Has-Been
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Re: New Tax (Rental) Guide
Quote:
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Originally Posted by ade
i think Gordon Brown wrote this
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I had one experience with UK Revenue where they dreamed up a figure and I had to prove I didn't owe it to them! A common tactic, I understand.
I wonder if Turkish Tax Officials have been to the same school of tax collecting, and if they might use the same method on villa rentals?
Ian |
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8th March 2007, 20:38
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#7
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Senior Member
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Re: New Tax (Rental) Guide
Quote:
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Originally Posted by immac
I had one experience with UK Revenue where they dreamed up a figure and I had to prove I didn't owe it to them! A common tactic, I understand.
I wonder if Turkish Tax Officials have been to the same school of tax collecting, and if they might use the same method on villa rentals?
Ian
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Yes, I'm sure they do Ian, thankyou for bringing that document to our attention, but there's no mention in there on how you go about paying tax owed or how you go about proving you've paid taxes in the UK under the Double Taxation Treaty
Pete |
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8th March 2007, 21:26
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#8
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happy member
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Re: New Tax (Rental) Guide
It did seem to say that if you let friends or certain relatives stay without paying, you should be taxed on what the rent would be if they were paying!! OK if you stay with them though.
Also there is a dual taxation treaty but I was told by the UK inland rev that you pay the tax in Turkey first and then declare it in UK and the tax already paid in Turkey can be offset in UK. You can't do it the other way round.
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