Foreign Property Income but no UK tax return?Make Text Bigger
My wife and I own 2 properties in Australia and have been filing tax returns to the Australian Tax Office for the past 10 years. We are in credit with the ATO for A$100K each and have paid no tax.
Unfortunately we did not realise that we should have filed returns with the UK tax too.
Can anyone tell me if we now file with the UK tax can we carry over the allowable tax credit to the UK tax or will we have to start from nothing and pay any profit from now.
Also what is the best course of action seeing that we have just realised this.
We have all of the previous tax records and an Australian Tax consultant did all of our tax.
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