P85 - Income from UK Property?

[tloring]

I have searched PIO threads and not found this specific question posed or answered.

 

On the HRMC P85 form there is a section for "Income from UK Property". It allows for only the identification of a property, e.g. "name and address of the person paying you"; "tell us how you will be paid - put X in one box".

 

However, we will be leaving two UK properties when we move to Oz. One is rented out via a letting agency, the other is our current house that we have been unable to sell and hence we are going to rent directly to some acquaintances.

 

We will be completing HMRC NRL1 forms for non-resident landlord within which you can declare all rented properties in more details.

 

Finally, after mortgage and legitimate offsets, we will make small losses on both these properties (we do not have then for profit).

 

Hence, my questions are:

1) If we are completing NRL1 forms do we need to put anything on the P85 forms?

 

2) If we do have to declare income from UK properties on the P85, how do we get around the fact that the form restrictions the declaration to a single property?

 

3) Given we are making losses on these properties, do we identify these are negative amounts on the P85?.

 

Hope someone out there can help. Many thanks.

[Guest siamsusie]

Hi, I am sorry I cant answer your questions for you, but bumping up your thread.

 

Good luck

 

Susie x

[tloring]

Hi, I am sorry I cant answer your questions for you, but bumping up your thread.

 

Good luck

 

Susie x

 

Thanks Susie. I hope someone can help because it is a little confusing.

Thanks again.

 

Tristan

[marnie cooper]

Hi

In response to your query regarding Form P85 and NRL1, I work for HMRC (don't often admit that), you do need to fill out both forms, P85 will also enable you to get any rebate due and update your address/contact details on the system. just put a letter in with your P85 regarding the other property. As for having losses on your properties you just need to put in negative amounts, this is not unusual for a lot of people.

 

Hope this helps:biggrin:

[tloring]

Hi

In response to your query regarding Form P85 and NRL1, I work for HMRC (don't often admit that), you do need to fill out both forms, P85 will also enable you to get any rebate due and update your address/contact details on the system. just put a letter in with your P85 regarding the other property. As for having losses on your properties you just need to put in negative amounts, this is not unusual for a lot of people.

 

Hope this helps:biggrin:

 

Thanks Marnie. This is really helpful.