Landlords (individuals, companies and trusts) who have UK rental income and whose place of ‘abode’ is outside the UK have a legal obligation of reporting and getting taxed on their rental income received in the UK.
Non-Resident Landlords have to register with HMRC under the Non-Resident Landlord Scheme (NRLS) in order to ensure that their tenants or letting agents are not passing on 20% withholding tax from the rental income to HMRC, who otherwise are obliged to do so.
How can we help?
If you are a Non-Resident Landlord, we can assist you with the following:
- Advice on the tax implications of purchasing a UK rental property through a limited company (either established in the UK or overseas), trust (UK or overseas) or in your own name.
- Registration under the Non-Resident Landlords Scheme, to avoid 20% tax withholding.
- Preparation of rental accounts & advice on tax deductible expenses.
- Preparation and submission of Annual Self-Assessment Tax Returns.
- Completion of Annual Tax on Enveloped Dwellings (ATED) Returns and ensuring that the relevant exemptions are being claimed.
If you are a Non-Resident Landlord – individual, company or a trustee, and you require help with any of the above, please contact us.