Q:
A: It will be the same as rental income from property in the UK. It is taxable as income with tax relief being allowable on any mortgage interest, repair bills, fees to letting agencies etc that you incur. This is because the Inland Revenue will tax you on all your income regardless of where in the world that income arises. However, given that many people in the UK do not pay any income tax on the rental income they achieve from their UK property then you would probably be able to get away with not paying any tax on your foreign property income if you chose not to disclose it. However, this would be tax evasion and therefore a serious crime!
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