Foreign property

Support
1

We have UK and foreign property, do we have to set up 2 accounts so that it correctly apportitions monies when it forwards information to HMRC?

2

Hello @Mbquick

You can submit a return on 1 account for sole trader income, domestic property and foreign property (one country only). This assumes none of these are owned through a limited company (as this is a different legal entity and should be recorded differently)

I would reccomend setting it up as a landlord as you would get extra features such as the Landlord Dashboard

3

Thanks, we only have one foreign property and 4 UK, so that should work.

My wife had a client based sole trader business that is on same bank account. If she has other digital records can we just make one entry a week to cover consolidated fees.

4

Hello @Mbquick

My wife had a client based sole trader business that is on same bank account. If she has other digital records can we just make one entry a week to cover consolidated fees.

Yes you could that would be fine