Warning to UK Rental property owners!

It appears evident from the number of people contacting me recently that HMRC in the UK have shared information with the Italian tax authorities regarding anyone who has a UK rental property and is declaring it in the UK for income tax purposes, but failing to declare it in Italy


A sizeable number of people are being contacted by the Guardia di Finanza for non declaration of this income in Italy and it is clear that a rather extensive exchange of information process is under way between tax authorities across Europe.

If you have UK property and receive rental income from it, it is declared in the UK, but you have failed to declare it in Italy (as an Italian tax resident), then you have been warned.  The Guardia di Finanza are on the war path and they probably already know about you.

If you haven't made your declarations then do so quickly.   You may think you haven't done anything wrong but the Italian tax authorities fine heavily for failure to reports assets even for innocent misdemeanour's.

If you would like to know more then you can contact me on +39 333 6492356 or email me at gareth.horsfall@spectrum-ifa.com