I have been living abroad for the last 6 years and buried my head in the sand when it came to sorting out our taxes.
We rent out a property in joint names and the tennants pay slightly less than we pay on the mortgage. We still have a mortgage but this will be paid in full in the coming weeks and will keep our UK home.
My husband has a UK pension which is still taxed, i have no UK income.
We have not advised HMRC we out of the country and will be doing so in the coming weeks.
Can anyone advise me please will we be fined for not completing any forms? What forms should i complete? How will they work this out and any rough ideas if there are any fines what these could be please as trying to gain as much information as possible first to have a rough idea where we might stand.
Will HMRC offset the taxes paid on my husbands pension against what we owe?
I am also cashing in a pension plan so initially this is taxed - i presume not being in the uk and not having a UK income i will at a later date be ale to claim that tax back?
Thank you in advance
We rent out a property in joint names and the tennants pay slightly less than we pay on the mortgage. We still have a mortgage but this will be paid in full in the coming weeks and will keep our UK home.
My husband has a UK pension which is still taxed, i have no UK income.
We have not advised HMRC we out of the country and will be doing so in the coming weeks.
Can anyone advise me please will we be fined for not completing any forms? What forms should i complete? How will they work this out and any rough ideas if there are any fines what these could be please as trying to gain as much information as possible first to have a rough idea where we might stand.
Will HMRC offset the taxes paid on my husbands pension against what we owe?
I am also cashing in a pension plan so initially this is taxed - i presume not being in the uk and not having a UK income i will at a later date be ale to claim that tax back?
Thank you in advance