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If you are resident in the UK and you inherit a property overseas, you are liable to tax on any income you receive from it, for example, rental income. If you have a property overseas and sell it, you are liable to CGT on the gains. The rate you pay depends on your other UK-taxable … Continue reading
If you rent any part of your main home out for residential purposes, there’s a tax free threshold of £7500 per year, effective from the 2016/2017 tax year. This means the first £7500 of the gross rent is tax free. Note that you cannot deduct expenses if you are taking advantage of this tax free … Continue reading
Phoenix Debola 