We've bought a house in Tuscany as an investment, and we will rent it out when we're not using it. This seems quite common, and reading some of the threads on the forum it is clear we are not alone.
But what about the taxes? Our UK accountant, who has always worked miracles for us, tells us to keep everything above board and that in the long term our tax bill from the rent and from when we sell the property will be considerably less compared with doing as "the romans do."
Has anyone had similar advice as this, and what should we think about doing next? (We hope the house will be ready by next Spring.)
Jane and Tony
Category
Property Sales/Rental Advice
Submitted by Anonymous (not verified) on Tue, 11/22/2005 - 05:01
We've bought a house in Tuscany as an investment, and we will rent it out when we're not using it. This seems quite common, and reading some of the threads on the forum it is clear we are not alone.
But what about the taxes? Our UK accountant, who has always worked miracles for us, tells us to keep everything above board and that in the long term our tax bill from the rent and from when we sell the property will be considerably less compared with doing as "the romans do."
Has anyone had similar advice as this, and what should we think about doing next? (We hope the house will be ready by next Spring.)
[QUOTE=Jane and Tony]Hi all,
We've bought a house in Tuscany as an investment, and we will rent it out when we're not using it. This seems quite common, and reading some of the threads on the forum it is clear we are not alone.
But what about the taxes? Our UK accountant, who has always worked miracles for us, tells us to keep everything above board and that in the long term our tax bill from the rent and from when we sell the property will be considerably less compared with doing as "the romans do."
Has anyone had similar advice as this, and what should we think about doing next? (We hope the house will be ready by next Spring.)
Jane and Tony[/QUOTE]
i'd speak to an italian accountant.......