Common use of HMRC Clause in Contracts

HMRC. 10.1 The Landlord will, at all times, be liable to abide by HM Revenue and Customs’ rules including their rules for self-assessment. The Agent shall bear no responsibility for ensuring The Landlord pays the relevant tax and in this regard The Landlord should take advice from a qualified accountant or similar. 10.2 The Agent will give to HM Revenue and Customs such information regarding the letting as they are lawfully obliged to do. This may include full details of every landlord and the annual rental income, but The Agent shall not be responsible for preparing or submitting a Tax Return for The Landlord or dealing with any taxation or accounting matters. 10.3 If The Landlord appoints an accountant or other representative to handle his tax affairs, The Agent shall if requested provide to the representative copies of all rent statements and deductions, 10.4 In the event that The Landlord’s usual place of abode for the purposes of HM Revenue & Customs is at any time during the term of the Contract outside the United Kingdom, the Landlord shall be responsible for obtaining a valid exemption certificate from HM Revenue & Customs together with a separate notice for The Agent (as Managing Agents named on the application) authorising us to pay rent to you without deducting tax. This can be obtained by registering under the Non-Residents Landlord Scheme (NRLS) and completing form NRL1 (individuals) or NRL2 (companies) online at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇/government/collections/non-resident-landlords-forms. Our HMRC number is NA026757. 10.4.1 Unless a valid exemption certificate, as detailed in Condition 10.4 above, has been obtained by The Landlord, The Agent shall, in accordance with the terms of Sections 971 and 972 Income Tax Act 2007 and the Taxation of Income from Land (Non-Residents) Regulations 1995 SI 1995 No. 2902), deduct basic rate of tax from the income received.

HMRC. 10.1 The Landlord will, at all times, be liable to abide by HM Revenue and Customs’ rules including their rules for self-assessment. The Agent shall bear no responsibility for ensuring The Landlord pays the relevant tax and in this regard The Landlord should take advice from a qualified accountant or similar. 10.2 . The Agent will give to HM Revenue and Customs such information regarding the letting as they are lawfully obliged to do. This may include full details of every landlord and the annual rental income, but The Agent shall not be responsible for preparing or submitting a Tax Return for The Landlord or dealing with any taxation or accounting matters. 10.3 . If The Landlord appoints an accountant or other representative to handle his tax affairs, The Agent shall if requested provide to the representative copies of all rent statements and deductions, 10.4 , costs, etc. In the event that The Landlord’s usual place of abode for the purposes of HM Revenue & Customs is at any time during the term of the Contract outside the United Kingdom, the Landlord shall be responsible for obtaining a valid exemption certificate from HM Revenue & Customs together with a separate notice for The Agent (as Managing Agents named on the application) authorising us to pay rent to you without deducting tax. This can be obtained by registering under the Non-Residents Landlord Scheme (NRLS) and completing form NRL1 (individuals) or NRL2 (companies) online at ▇▇▇▇▇://▇▇▇.▇▇▇.▇▇/government/collections/non-resident-landlords-forms. Our HMRC number is NA026757. 10.4.1 . Unless a valid exemption certificate, as detailed in Condition 10.4 above, has been obtained by The Landlord, The Agent shall, in accordance with the terms of Sections 971 and 972 Income Tax Act 2007 and the Taxation of Income from Land (Non-Residents) Regulations 1995 SI 1995 No. 2902), deduct basic rate of tax from the income received.