Reporting US rental income on UK tax return

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Hello,

A new client has a US rental property and has been reporting this to the IRS on form 1040, which is for their tax year from January to December.

I was going to report their rental income on the actual basis and report April to March in line with the UK tax year, but I came accross this answer on the HMRC Community Forums which made me question this. 

Would you report January to December 2022 on the 2022/23 tax return as suggested by HMRC, or report April to March? We are currently obtaining professional clearance so will see how the previous accountant reported. 

Many thanks for any help or guidance. 

 

Replies (3)

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By David Ex
25th Jun 2024 12:33
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By Paul Crowley
25th Jun 2024 12:38

Wait out and see what the others did.
When I had a similar I just time apportioned

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By Samuel95
26th Jun 2024 11:09

Thanks for your replies. I cannot see anything in the manuals which agrees to the HMRC Admin's answer so I will time apportion.

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