Tax situation while living abroad

irishspur

Hi everyone, My wife and I moved to Dubai last year and rent our house out in England. We had rented it to friends who have now left and a letting agent rents it out for us. We intend to move back to the UK within the next few years and are curious to know what the taxation implications are for us.
We also send back money every month to cover a few other expenses on the house, boiler cover, landlords insurance etc, all this added up we actually make a loss of about £50 a month
..are there forms to fill in so that everything is above board when we eventually go back?

we left mid way through a tax year too, can we claim back the tax we paid for that year?


Also on another note, is there a way we can keep up our national insurance contributions?

Thank you to anyone who can point us in the right direction

fengirl_2

You should have completed a form P85 when you left the UK. You cna download this from https://www.hmrc.gov.uk . You need to send it to your tax office with the P45 which you should have received when you left work. if you have not paid tax on your rental income, there may not be a refund of tax due to you, but can't advise wwithout details.
Unless authorised otherwise by HMRC your tenants should have been witholding 20% tax from their rents, but I assume they have not sone so. You will therefore need to bear in mind that tax is still due on this income.
The letting agent will withold tax from the rents he collects, again, unless HMRC authorise him not to because your tax free allowance covers any profit you make. You will need to take advice on this.
You can pay class 3 NIC's and there will be something on HMRC website about this.

Cook_County

Your tenants are either withholding tax before paying you the rent or you registered under the non-resident landlords scheme.