Foreign Property Income

Question asked by Gary Widdison 1 month ago

I saw there was a post about foreign rental income and I believe that there was not yet a section on clearbooks for this but I think that you said clearbooks could be used for the end of year tax return and foreign property income could be included, I have just started renting out a property in France for summer only and the income is not very high, can this be included and the tax paid in France also be included for the double taxation treaty using clearbooks, hopefully in a simple format, i.e. Income received and tax paid?

Write reply5

5 Replies

Hi Gary,

Currently, you do not need to submit quarterly updates for your French property, and Clear Books can be used to report this income on your MTD Tax Return at the end of the tax year. We are actively working on adding support for foreign property income quarterly submissions in the near future.

Within the MTD Tax Return, you will be able to input Foreign tax credit relief. However, I would advise double checking with an accountant with expertise in international property and the UK-France Double Taxation Treaty to ensure you are meeting all your obligations.

Tommy

Best answer
1 month ago

Thank you, I have just signed up for ClearBooks, I don't think I will need to use it until April 2027 because of my lowish turnover but am planning to start April 2026 just to keep up to date, can I start filling in things for the rest of this year just to get used to it or should I leave it until I am actually going to be using it officially as it were?

1 month ago

Hi Gary,

You can absolutely start inputting your income and expenses for the rest of this year and all of next year to get used to the software, we strongly recommend you start now!

Tommy

1 month ago

Thank you, but nothing actually gets sent to HMRC from ClearBooks until I choose, is this correct?

1 month ago

Hi Gary,

Yes, that is correct.

Tommy

1 month ago

Reply to this question

Attach images by dragging and dropping or upload
 

Your comments will be public and can be answered by anyone in the Clear Books community.

Find out what we do and who we are

Apps

Company

Social