OVERSEAS RESIDENTS. When letting property and collecting rents for non-UK resident landlords (NRL) i.e. landlords living overseas, the Agent is obliged by the Income Tax Xxx 0000 and the Taxation of Income from Land (Non-Residents) Regulations 1995 to deduct tax (at the basic tax rate) to cover any tax liability, unless the Landlord has been authorised in writing by HM Revenue and Customs (HMRC) to receive rent gross. In this situation, the Agent also requests that the Landlord appoints an accountant or reserves to the Agent the right to employ a suitably qualified accountant in order to manage correspondence with the Inland Revenue. A standard annual charge will be made for this work and the Agent may charge reasonable administration expenses for further work requested by the Landlord, the Landlord's accountant or the HMRC in connection with such tax liabilities.
OVERSEAS RESIDENTS. When letting property and collecting rents for non-UK resident landlords (NRL) i.e. landlords living overseas, the Agent is obliged by the Income and Corporation Taxes Act 1988 and the Taxation of Income from Land (Non- Residents) Regulations 1995 to deduct tax (at the basic tax rate) to cover any tax liability, unless the Landlord has been authorised in writing by HM Revenue and Customs (HMRC) to receive rent gross. In this situation, the Agent also requests that the Landlord appoints an accountant or reserves to the Agent the right to employ a suitably qualified accountant in order to manage correspondence with the Inland Revenue. A standard annual charge will be made for this work and the Agent may charge reasonable administration expenses for further work requested by the Landlord, the Landlord's accountant or the HMRC in connection with such tax liabilities. In many cases, a landlord's tax liability is minimal when all allowable costs are deducted.
OVERSEAS RESIDENTS. When letting property and collecting rents for non-UK resident landlords (NRL) i.e. landlords living overseas, the Agent is obliged by the Income and Corporation Taxes Act 1988 and the Taxation of Income from Land (Non-Residents) Regulations 1995 to deduct tax (at the basic tax rate) to cover any tax liability, unless the Landlord has been authorised in writing by HM Revenue and Customs (HMRC) to receive rent gross. It is the Landlords responsibility to register with the HMRC. If HMRC approval is not received tax will be retained by the Agent at basic rate and passed to HMRC at timely intervals. In many cases, a landlord's tax liability is minimal when all allowable costs are deducted.
OVERSEAS RESIDENTS. Non-UK Resident Landlords - When letting property and collecting rents for non-UK resident landlord (NRL)
OVERSEAS RESIDENTS. When letting property and collecting rents for landlords overseas, the Agent is obliged by the Taxes Management Act (TMA)1970 and the Taxation of Income from Land (Non-Residents) Regulations 1995 to deduct tax (at the basic tax rate) to cover any tax liability, unless the landlord has been authorised in writing by Inland Revenue to receive rent gross. In this situation, the Agent also requests that the Landlord appoints an accountant or reserves the Agent the right to employ a suitably qualified accountant in order to manage correspondence with the Inland Revenue. A standard annual charge will be made for this work and reasonable administration expenses may be charged by the Agent for further work requested by the Landlord, the Landlord's accountant or the Inland Revenue in connection with such tax liabilities. In many cases, landlord's tax liability is minimal when all allowable costs are deducted. COUNCIL TAX: Payment of Council tax will normally be the responsibility of the tenants in the Property. However, landlords should be aware that where a property is empty, let as holiday accommodation, or let as a house in multiple occupation (HMO) responsibility for payment of council tax then rests with the owner of the property.
OVERSEAS RESIDENTS. When letting property and collecting rents for non-UK resident landlords (NRL) i.e. landlords living overseas, the Agent is obliged by the Income and Corporation Taxes Act 1988 and the Taxation of Income from Land (Non-Residents) Regulations 1995 to deduct tax (at the basic tax rate) to cover any tax liability, unless the Landlord has been authorised in writing by HM Revenue and Customs (HMRC) to receive rent gross.
OVERSEAS RESIDENTS. When letting property and collecting rents for landlords living overseas (non-UK resident landlords), the Agency is obliged by the Taxes Management Act (TMA) 1970 and the Taxation of Income from Land (Non-Residents) Regulations 1995 to deduct monies (at the basic tax rate) to cover any tax liability, unless the Landlord has been authorised in writing by HM Revenue & Customs to receive rent gross. A copy of the NRL certificate must be provided to the Agency. In this situation, the Agency also requests that the Landlord appoints an accountant or reserves the Agency the right to employ a suitably qualified accountant in order to manage correspondence with HMRC. A standard annual charge will be made for this work and administration expenses may be charged by the Agency for further work requested by the Landlord, the Landlord’s accountant or the Inland Revenue in connection with such tax liabilities. In many cases, a Landlord’s tax liability is minimal when all allowable costs are deducted.
OVERSEAS RESIDENTS. As an overseas landlord and we are obliged by law to deduct income tax at source from any rents received for landlords who are non-resident, unless an approval number is obtained from the Inland Revenue. If an approval number is held all rent can then be paid to you gross, although it does not exempt you from UK income tax. Approval is usually straightforward, and forms can be obtained from the following web link: xxxxx://xxx.xxx.xx/government/publications/non-resident-landlord-application-to-receive-uk- rental-income-without-deduction-of-uk-tax-individuals-nrl1i You will need to complete these forms unless you have previously registered before. Our approval number which you will require is: NA15865 Other contact details are as follows: • Telephone: 00000 000 000 • Outside UK: +00 0000 000 000 Charities, Savings and International 1 HM Revenue and Customs BX9 1AU United Kingdom Once rental monies have been received, we will be required to deduct tax until we have received authorization and approval numbers from the Non-Resident Landlord Scheme that you are exempt. If the property is owned jointly, we will require approval numbers for both parties so you will need to complete two separate forms. If you have already registered with the scheme, you will just need to ring them to confirm that we are the managing agents and give them the above approval number.
OVERSEAS RESIDENTS. 4.1 Our services may not be available in countries where they are prohibited by local law. If you are in any doubt, you are strongly advised to contact your legal adviser. We will not be responsible for the use of our services, and the consequences thereof, where this is prohibited by local law.
OVERSEAS RESIDENTS. 7.1. The services provided by the Company may not be available in countries where the use thereof is prohibited by local law. If in doubt, the Client should contact a legal adviser. The Company will not be responsible for the use of its services by persons in countries where the use of such services is prohibited. The Client warrants that before entering into this Agreement, he/she/it has checked and ascertained that the provision of the services to said Client does not violate and/or breach any law, rule, regulation and/or code of practice.
