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Certificate of tax position query

Certificate of tax position but no additional income or gains to declare.

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Client received the above. She has got a property abroad but not income is derived from it. Does she need to declare the mere fact of holding an asset offshore?

Can she just check option 2: "My tax affairs do not need updating. I do not have any additional tax to pay and I have declared all of my offshore income, assets and gains."?

The assets bit throws me off a bit...

Thank you for any thoughts on this.

Replies (4)

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By Wanderer
31st May 2019 07:10

Option 2. Just a fishing exercise.
If you want just put in the space below "Property owned in (country) but no income derived from this."

Thanks (1)
By Rammstein1
31st May 2019 07:50

I called HMRC about this for a client in the same situation. They confirmed that they knew that she had something in the foreign country but did not know if it was income bearing. We just ticked option 2 and sent a covering letter.

Thanks (1)
By accountantccole
31st May 2019 13:03

I've had once this week who is using remittance basis. Nothing extra to declare. I did a covering letter

Thanks (1)
02nd Jun 2019 22:43

Many thanks for your comments, very helpful.

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