The Government’s non-resident landlord scheme is used to collect tax due on your rental income if you own property in the UK but do not reside in the UK.
Many considerations need to be taken into account when deciding on the best way to plan your finances in order to maximise your rental income and minimise your tax bill.
We can help you:
- Register for the scheme
- Calculate which expenses can be deducted
- Deal with letting agents on your behalf
- Work out what how much tax you need to pay.
It is also important to consider the obligations you will have to your tenants when you are an overseas landlord. If you are no longer a UK resident but are still earning an income from rent on your UK property, you will still have to submit self assessment form.
The full Government guide can be found online here.
Contact us today to find out how we can help you tackle this complex area.