10238 English Landlord, Italian Resident

Ciao a tutti,
If I rent out property in the u.k and become an Italian resident do I pay tax on the income from this in Italy?
Also does anyone have any experience of acquiring a mortgage for a property in the u.k whilst resident in Italy?
Many thanks,
Anth08

Category
Legal

Submitted by Anonymous (not verified) on Fri, 08/22/2008 - 02:00

Hi,
Any income you receive in the UK is payable in the UK. We are resident here in Italy but have an apartment back in the UK for which we have to complete a tax return.

Submitted by Anonymous (not verified) on Fri, 08/22/2008 - 02:23

Strongly recommend you get professional advice as I understand that you pay tax on your world wide income to the country where you are resident for tax purposes. There is a recipricol agreement between UK and Italy dealing with tax. We pay tax in Italy for income generated in the UK. We are 'not ordinarily resident for tax' for the UK. You can, if you have income from bank accounts, etc., complete a 'not ordinarily resident' tax form and then any interest is paid gross and not net. It is possible that rental income is treated differently but I still suggest getting advice.

Submitted by Anonymous (not verified) on Fri, 08/22/2008 - 11:19

Well, I thought I paid tax here and not in the UK (pension and rental income), so I toddle along to the Agenzia delle Entrate to declare. First lady says I don't pay tax here, I say 'Are you sure I thought I did'. She goes away for an hour then tells me to come back the following week. I do so and see a more senior lady who tells me the same thing and helps me complete the form. Oh well, who am I to argue?