Hi,
I have been living in UK with Tier 2 General visa for the past 3.5 years, and have a current Tier 2 visa for another 2.5 years. I have been paying my income tax in UK via PAYE like anyone else. I had started receiving rental income in my home country in April 2018, but I have not transferred this money to UK at all. I paid taxes in my home country for this rental income. Considering I am not moving the money to UK, I thought this is not something HMRC would care.
Recently, a friend said I should have declared this to HMRC via self assessment, and I am shocked given I am a PAYE employee and right now flat out panicking after reading heaps of ILR issues with tax (mainly on Tier 1 though, I couldn't find anything on Tier 2).
My home country and UK has a double taxation agreement, so it looks like I am unlikely to pay any taxes. I am planning to talk to a tax adviser next week to sort out and declare last year's income via self assessment in time, and (if appropriate) apply for Let Property Campaign to fix the previous tax year.
But in your experience, how likely this mistake would cost me my ILR in 1.5 years or any visa renewal if I change my current job?
After reading all these ILR refusal threads, I feel extremely panicked and sad.
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