Topic: Notifying HMRC if you have overseas flat to let

[WardJ]

Most, if not all, may or may not know this, but I was speaking to HMRC on Friday and they informed me that if anyone had a flat they were renting out in the last tax year, they should notify their local tax office in writing by 5th October.  Details to be enclosed are location of property, date it was available for rent, rent earned, expenses incurred, and if possible an estimate of next year's rent and expenses.  By doing this, any losses can be carried forward to net off against any future profits.

In addition to this, anyone know what the protocol is in Bulgaria re notifying authorities that we have a property to rent, and dates it has to be done by etc.

[Missizippi]

Yes, my accountant said much the same thing and declared it on our tax return so that we can offset the losses. I don't beleive that we need to do anything in BG although I am sure MPS would have told us if we needed to. (she said, hopefully!)