property abroad

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mc25
mc25 Registered Posts: 232 Dedicated contributor 🦉
Just having one of them day. Need help with EU income. Client has got a property in EU, did the tax return last year and included the figures on property abroad figures, from what I could gather you can now include this income on UK other income page and this means you can offset your loss against other income received. Now I am about to file the return for this year, can i include the EU income on UK pages and doing it this way it will bring the loss c/f from previous years to this current year and if there is any repayment due I can claim it through this way.
Rang HMRC about this but I am getting contradicting information from them.

Any ideas will be appreciated.

Thanks

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  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    I don't know offhand - have you read the Help Notes for the SATR for both relevant sections? I usually find they cover most things.

    Alternatively have a look in the manuals
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    Does it meet all the rules of a furnished holiday let?
  • mc25
    mc25 Registered Posts: 232 Dedicated contributor 🦉
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    Bluewednsday As far I am aware it meet all FHL requirement. Monsoon I have read he notes but can't really find the answer am looking for. I even rang HMRC spoke to 2 diff pple but both gave me different answers so now I am even much confused. Ok here is the situation, there is a loss c/f from 07/08 and 08/09 was going to bring forward this losses, when doing the 09/10 returns and include the b/f on the uk pages this time rather than property abroad pages then this way I can offset the loss against other income, which i have read on hmrc site you can do this since they changed it last year? I am correct in the approach am looking at handling this? or what is the best option?

    Please help!!!
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    mc25 wrote: »
    I even rang HMRC spoke to 2 diff pple but both gave me different answers so now I am even much confused.

    Typical HMRC, they are utterly unreliable on the phone, it's a complete waste of time for anything technical, unless you can get through to someone senior.

    Have you tried the tax advice line you get as a MIP, I've used it once and it was brilliant, the guy knew the answer I needed off the top of his head.
  • mc25
    mc25 Registered Posts: 232 Dedicated contributor 🦉
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    Thanks

    Mosoon, I have thought of that will give them a call tomorrow just to confirm everything as see what they have to say. This is driving me mad, I have got that many answers, I am sure in the long run it will get sorted. Thanks once again.
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