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Old 21.09.2020, 20:31
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Hello All. I live in the U.K. and get taxed on my income. I am about to buy a property in SG for rental I am stumped by the taxes. Iíve tried tax advisors but as we havenít bought yet they arenít interested. We are buying a house for 600 CHF with a mortgage of 350CHF. We expect to get about 19000 CHf in rental income but most of this is swallowed up in costs. In terms of my position we own a house in the U.K. worth about 1.5 mill CHF with a mortgage of 400CHF but this is due to astronomic house price inflation. I am told we can either take the top tax band on the income from rent or declare all assetts. Not sure what is the cheapest option. When working through on a calculator it looked like tax would be 5000 CHF which is a lot on a property thatís not actually delivering any upsides financially and just paying for itself. Any advice

The fist two numbers are obviously Ď000ís - sorry newbie

Last edited by roegner; 21.09.2020 at 20:36. Reason: Merging consecutive posts
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Old 21.09.2020, 20:55
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Re: Desperately need some help on taxes

Register limited company and say you are operating out of uk


12 bux only to create one on company house
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Old 21.09.2020, 22:24
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Re: Desperately need some help on taxes

Wow
2 trolls 1 thread
And it's only Monday
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Old 21.09.2020, 23:13
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Re: Desperately need some help on taxes

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Wow
2 trolls 1 thread
And it's only Monday
The only reason that you picked up on that is because they said that their UK house was worth CHF1.5m
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Old 22.09.2020, 08:51
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Re: Desperately need some help on taxes

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The only reason that you picked up on that is because they said that their UK house was worth CHF1.5m
Most houses in London would be that or multiples of that. The second flat I owned when I was 30 sold for more than that recently.
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Old 22.09.2020, 09:47
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Re: Desperately need some help on taxes

Gosh I joined hoping for some help. The only reason I mentioned the price of the house is because that is relevant as I am going to be taxed on it. Sorry if you are offended by the price of my house but as PP said - that’s London - I didn’t pay that for it
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Old 22.09.2020, 10:16
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Re: Desperately need some help on taxes

FMF was just worried that it's so cheap.

It seems pretty obvious from your figures that it's just not financially viable. The suggestion that you create a ltd. company to hold it doesn't really work - not only is it problematic shifting the property ownership to the ltd. co., I'm fairly sure a UK ltd. company won't be allowed to buy a house in CH.
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