Menu
We recognise UK tax laws can be complicated and new to our overseas clients. You will receive full support from the moment you instruct us. Whether you choose our full tax service or appoint another accountant, we offer consistent and professional advice. However, by choosing our tax service, you will have one point of contact for all your property needs.
The Non-resident Landlord Scheme
A landlord whose usual place of abode is outside the UK is considered non-resident under the scheme. HMRC normally regard an absence from the UK of six months or more as meaning that a person has a usual place of abode outside the UK.
If a landlord’s place of abode is outside the UK, letting agents or tenants should operate the NRL Scheme. This means that tax should be deducted at the base rate of tax from any net rental income due to the landlord.
Landlords can either be an individual, a company or trustee.
Tax is collected using the Non-resident Landlord (NRL) Scheme.
Tax can be deducted by either:
If the landlord is a joint owner, tax is paid on their own share of rental income.
However, you can apply to get your UK rental income paid without deduction of UK tax. If a landlord takes our Tax Service, we will submit the application on their behalf. If our service is not taken, please see below.
We will compile and prepare details of the full tax year’s rental income and expenses in Excel spreadsheets for you.
a)We will reconcile your landlord statements to ensure all rental receipts less expenditure paid by your agent (net rental income) matches payments paid to you.
b)We will check your rental statements to ensure expenses are not deducted twice in error by your agent.
c)Rental income and expenses are broken down by month for easy entry and then summarized on a separate page ready for inclusion on your tax return.
d)Categories match the categories found on the tax return format.
The tax year is from 6 April to 5 April the following year.
You must report any profit on a Self-Assessment tax return if HMRC ask you to.
If you’re not registered for Self-Assessment, If you don’t usually send a tax return, you need to register for Self-Assessment by 5 October following the tax year you had rental income. If you don’t, you could be charged a penalty.
If you take out our service, we will
a) submit your application to be registered for Self-Assessment and get a Unique tax reference number for you
b) Prepare your annual tax return
c) submit your annual tax return on time.
Please see HMRC link below: https://www.gov.uk/self-assessment-tax-returns/deadlines
You must pay tax on any profit you make from renting out property. How much you pay depends on:
Your profit is the amount left once you’ve added together your rental income and taken away the expenses or allowances that you can claim.
The deadlines for paying your tax bill are:
31 January – for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account
31 July for your second payment on account
Please see HMRC link below: https://www.gov.uk/pay-self-assessment-tax-bill/overview
We will request any overpaid tax is refunded to you from HMRC on your behalf.
Please see HMRC link below: https://www.gov.uk/claim-tax-refund/you-fill-in-a-self-assessment-tax-return
We will respond to all HMRC related queries on your behalf and keep you informed.