# Anyone Know anything about overseas property on a Tax Return



## terrymcg (Mar 19, 2007)

As the title suggests, does anyone have any experience with overseas property when it comes to completing a tax return?

If so, ill post my question!


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## Andyblue (Jun 20, 2017)

Yup, my wife - what you want to know


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## terrymcg (Mar 19, 2007)

Thanks - Basically we moved back from Australia in April this year. Still own our house over there, as we couldn't get it sold so have rented it out instead. I am making a sizeable loss every month in what I get for rent vs the interest only mortgage payments. Can I submit a tax return in uk and get any tax relief on my UK salary?


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## Andyblue (Jun 20, 2017)

terrymcg said:


> Thanks - Basically we moved back from Australia in April this year. Still own our house over there, as we couldn't get it sold so have rented it out instead. I am making a sizeable loss every month in what I get for rent vs the interest only mortgage payments. Can I submit a tax return in uk and get any tax relief on my UK salary?


Wifey says:-

Unfortunately not. Property losses can only be used against other property profits. So if you had another rental property making a profit you could use the losses against those. Our tax year runs to 5 April so the first UK tax return you will need to do is for the year to 5 April 2018 which will need to be submitted by 31 January 2019. If you haven't already done so you need to register with HMRC for self assessment.

Let me know if I can assist further. 
Sorry it's not the answer you wanted.


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## terrymcg (Mar 19, 2007)

Thanks mate! I did think as much.

Don't think ill ever get rid of this noose round my neck lol!


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## Andyblue (Jun 20, 2017)

terrymcg said:


> Thanks mate! I did think as much.
> 
> Don't think ill ever get rid of this noose round my neck lol!


No problem bud

Drop me a PM if you've any other questions for her


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