UK Self Assessment when living abroad
Discussion
My daughter moved to Australia last August. She rents her flat out in the UK and is in the middle of doing a self assessment form for the tax man. It's all a bit of a minefield for her and she is also wondering if she should even bother, will they find out? She is paying out more money than she gets in afaik. This is her only UK income apart from about £2 a year interest on savings. So is it worth getting an accountant to do it properly or could she even keep quiet about it. She also has no intentions of returning to these shores anytime soon, if at all.
Legally she is obliged to complete and submit the UK SA return.
If she chooses NOT to comply with her legal obligations, she must be prepared to face whatever consequences eventually transpire.
Getting a UK based accountant to submit the return on her behalf should not be that difficult or expensive.
Why do people seem to think that they can ignore the law?
If she chooses NOT to comply with her legal obligations, she must be prepared to face whatever consequences eventually transpire.
Getting a UK based accountant to submit the return on her behalf should not be that difficult or expensive.
Why do people seem to think that they can ignore the law?
Overseas landlords are obliged to return their rental income from UK properties to HMRC. This MAY mean they have a tax liability but it does not mean they actually do.
What will happen though is that HMRC can levy penalties for-
a) failure to notify that an SA return should have been submitted
b) failure to submit the return itself
The fines for failing to do the above can be very, very high now. So, unless am ex-pat plans NEVER to return to the UK, there is always the chance that on returning to the UK they could find a large bill awaits them.
What will happen though is that HMRC can levy penalties for-
a) failure to notify that an SA return should have been submitted
b) failure to submit the return itself
The fines for failing to do the above can be very, very high now. So, unless am ex-pat plans NEVER to return to the UK, there is always the chance that on returning to the UK they could find a large bill awaits them.
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