Jump to content
Sign in to follow this  
griff0509

tax Deductable Rental Income

Recommended Posts

I own a property in the UK and have lived there for 6 years with my family.  Last year I was forced to move to Spain for a work emergency (I had to sack the MD for fraud).  The move was not one of my choosing and is complelty work related.  In order to be able to afford to pay rent on a property near my business, I have rented the house in the UK.  In fact the rent on the house in Spain is more that the income I receive from renting my UK property.  My question is, can the rent that I pay in Spain offset that tax that I have to pay on the income received from the UK tenancy?

Share this post


Link to post
Share on other sites

As I see it these are totally independent issues.

If the rental in Spain is a tax allowable expense, and I wouldn't like to say how, then it is claimed as such against the Spanish business profits.

If your rental business in the UK makes a profit then tax becomes payable.

If overall you make a loss in Spain again I wouldn't like to say if that can be used as an offset for your UK liabilities, but we are in the EU, still.

In theory though wherever you live will have an expense, how much of an expense is your choice.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...