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Old 05.12.2015, 06:34
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How to declare UK apartments on Swiss tax return

Hi,
Following on from my post about UK ISAs, I have similar confusion around UK apartment declaration.

Apologies if this appears as covered in other posts, I have done a search, but the information varies so much and I do have a special circumstance.

So the three main areas of confusion are
1) how to declare worth of the apartment(s) on the Liegenschaftenverzeichnis form
2) what to put as rent revenue if the apartment is unoccupied (or not fit to rent)
3) where to put the info (section 6 of main tax form Steuererklärung) or all on Liegenschaftenverzeichnis form

So for 1):
This have been a few posts about this, since UK properties do not have a official government-set value for use on Swiss tax returns. But house prices fluctuate wildly. I could use the Land Registry estimate (from their website houseprices.landregistry.gov.uk/price-calculator). Or as someone suggested, use insured value (which due to the current house price inflation is ridiculously low). Is there a tried-and-tested solution for this?

Sidenote: this should not be not declared in "Assets and home and abroad" section ("Auf steuerbare Vermögenswerte im Ausland", box 496 on page 4 of Zurich tax form), right? As I read in other posts that immovable assets like apartments are not taxed, but the value is used to calculate overall wealth...is this correct? Would be a negative overall value for me otherwise! :-P

So for 2), rent revenue:
So we have 2 apartments, one rented out, and one our UK family home (I used to short-term contract until recently, so it was wise to keep that in case things went pear-shaped).
For the apartment not rented, I read different things for this, from make a figure up, to use half of market rate, to use 0.045 of the purchase price (again would be so incredibly low as we bought the apartment before the boom).
Sidenote: the apartment was flooded from the upstairs neighbour, and needs renovation as a result. I read in other posts, that if it is uninhabitable, then the tax authorities might accept zero rental value? Certainly, when going home for Christmas, we have to use a hotel, as don't fancy taking our little one to a damp place that smells of mould.

So for 3) where to put the info.
There is a section 6 in the main tax form, I guess for the simple case, but since I have 2 apartments I can ignore 6.1 to 6.3 and I need to use a separate Liegenschaftenverzeichnis form and declare both apartments' combined value in 6.4 instead, right?
Oh, and on the first page of Liegenschaftenverzeichnis form, I do not put anything in Ertagswert column, as that's for commercial use (agriculture and forestry)?

Apologies if these sound very obvious questions, but my German language skills are still terrible. And when I pull late nights figuring this out, need it spelt out slowly!

cheers,
Slayer

Last edited by Slayer; 05.12.2015 at 06:54.
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liegenschaftenverzeichnis, property abroad, swiss tax, uk assets




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