Tax Query

[Lisa1976]

Being in the UK does this effect us tax wise in any way, owning DVC? Do we have to notify the Inland Revenue?

[Slowhand]

Being in the UK does this effect us tax wise in any way, owning DVC? Do we have to notify the Inland Revenue?

I certainly have not informed the UK tax authorities ever since my DW and I became members in 1992!
Why should I? After all, it is a purchase, not a benefit or perk.
Strictly speaking though, if ever you decide to rent out your points to a third party then arguably this would be classed as income for you and in which case would more than likely be liable for tax due on the income you receive.

[Lisa1976]

Phew I was hoping that would be the case, just wanted to check.

Thanks :)

[dcfromva]

Slowhand,
Do you get to write off the property tax paid on the DVC property like we do in the US?

-DC :ears:

[susieh]

We dont get any perks or any penalties from our DVC ownership as far as I am aware - maybe someone who works in the Tax business can give a definitive answer