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Letting UK property while abroad - loopholes?
thenap80
Posts: 454 Forumite
Hi
I am soon to be moving abroad and will continue to let my property in UK. I am aware that I will still need to pay tax to HMRC here and there are treaties set up to limit the amount of tax I would pay in my new country, which is to be Sweden.
Now I know they have practically zero personal allowance like us and their tax rates are higher than ours.
My question is, is there a way of having the rent money paid into some kind of pot here in UK where it would not be seen as an income as such for myself and so I would not have to declare it and get taxed such a lot in Sweden. I won't need immediate access to the monet and could afford for it to be kept safe and untouched until my return to UK in a few years, most likely. I only ask because someone mentioned Trust Funds but would that still be seen as a declarable income if I paid direct to that.
Thanks
I am soon to be moving abroad and will continue to let my property in UK. I am aware that I will still need to pay tax to HMRC here and there are treaties set up to limit the amount of tax I would pay in my new country, which is to be Sweden.
Now I know they have practically zero personal allowance like us and their tax rates are higher than ours.
My question is, is there a way of having the rent money paid into some kind of pot here in UK where it would not be seen as an income as such for myself and so I would not have to declare it and get taxed such a lot in Sweden. I won't need immediate access to the monet and could afford for it to be kept safe and untouched until my return to UK in a few years, most likely. I only ask because someone mentioned Trust Funds but would that still be seen as a declarable income if I paid direct to that.
Thanks
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Comments
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Your accountant will be better placed to give you the options, the pros, cons and risks, than a bunch of amateurs on the internet...........0
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You need Swedish tax advice, I doubt there are many experts on here.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Quite possibly you could get advice here from a suitably experience accountant or tax adviser who deals with international matters. Maybe Sweden disregards income from the UK provided you can show you have paid tax on it here? Quite possibly what applies now could change in the near future (I won't use the B word).My question is, is there a way of having the rent money paid into some kind of pot here in UK where it would not be seen as an income as such for myself and so I would not have to declare it and get taxed such a lot in Sweden. I won't need immediate access to the monet and could afford for it to be kept safe and untouched until my return to UK in a few years, most likely. I only ask because someone mentioned Trust Funds but would that still be seen as a declarable income if I paid direct to that.
Mind you if you've got a Monet you probably don't need to worry about paying a little tax:)0
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