Graeme Harkins
Joined: 1/11/2025
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Net loss from overseas rental property which has already been taxed in Australia
Hi
I moved back to the UK in Aug 2023 from Australia and became a UK tax resident.
I had earnings from employment and a property I own in Australia which is continuing to be rented.
I completed an Australian tax return for the period June 2023 - June 2024 and recorded a net loss on my property, and paid Australian tax on my earnings up to August 2023.
I am now trying to complete my self assessment in the UK.
I am salaried in the UK and therefore the only additional income is foreign rental income.
However, for the UK period April 2023 - April 2024 my foreign rental income is actually a net loss (therefore under the £1000 income threshold) and it has already been included in my Australian tax return for the period to June 2024.
Do I need to include it on my Self Assessment, and if so how?
Thanks