Paying tax while abroad

F

franko

Guest
Hi, I'm renting my house as i am going travelling for a year, i will have no income during that year and i will be out of the country, do i need to pay tax???
 
Depends on how much rental and other income you earn in that period. You will at least need to file/declare returns in respect of the rental income. See the FAQ:

Property Investment FAQ

If you bought the house within the last 5 years then a clawback of stamp duty will apply. Renting it out will also probably mean CGT on some portion of any eventual resale gain. You should get independent, professional advice on the bet way to handle these issues.