Below is a brief summary of the service we can provide for non-resident landlords.
If you are preparing for leaving the UK:
Assistance with minimising your tax liability for all personal taxes, including:
Deal with form NRL1 – Application for exemption from the non-resident landlord tax scheme
Failure to obtain an exemption will result in tax deductions being made at source
Apply for the Inspector’s agreement to your residence position, which will determine the extent of your UK tax exposure, and review your circumstances to highlight areas where tax savings may be made
When you are abroad:
Correspond with your letting agent to obtain details of rent received together with expenses paid
Prepare the necessary sections of the UK self-assessment tax return form. In all cases this will include the land and property module. Where the property is owned jointly, a tax return will be needed for each owner
Calculate your tax liability and agree this with the Inspector of Taxes
Notify you of payments on account required by the Inland Revenue and advise you if a reduction should be made
If you plan to return to the UK we shall:
Complete a full review of your tax position and advise you of any measures you need to take prior to your return to the UK to mitigate any potential tax liabilities
Correspond with the Inspector to ensure that you are provided with your full entitlement of allowances on your return
Position: Internal Legal Advisor and Assistant Compliance Officer
