Expert accountants for overseas landlords

Yes, as a non-resident of the UK, you are generally required to submit a Self Assessment tax return if you receive rental income from UK properties.

Most non-residents do not qualify for the UK personal allowance, meaning that all rental income will typically be subject to UK tax from the first pound earned. However, some non-residents may still be eligible for the personal allowance, depending on specific circumstances, such as nationality or ties to certain countries with double taxation agreements.

Additionally, you have to apply for the Non-Resident Landlord (NRL) Scheme, which allows rental income to be paid without tax deducted at source. Even if you use the NRL Scheme, you must still declare your income on a UK tax return.

It’s also important to review any double taxation agreements (DTAs) between the UK and your country of residence, as they may affect how your rental income is taxed.

It would be advantageous to have a detailed discussion regarding your individual circumstances to determine the most appropriate course of action.

Of course! The NRL Scheme streamlines the reporting of UK rental income for non-residents. If you meet the eligibility criteria, our team offers the following services:

1. NRL scheme registration and Self Assessment UTR: Our experienced professionals will guide you through the registration process, ensuring all necessary information is submitted accurately and efficiently.
2. Submission of annual returns: We will handle the submission of your annual Self-Assessment tax returns, ensuring full compliance with HMRC regulations.
3. Identifying reliefs and allowances: Our team will carefully assess your circumstances to identify any eligible reliefs or allowances, helping to maximise your tax savings.

We’ll take care of the complexities of the NRL Scheme, allowing you to focus on your investments.

Managing rental income from multiple properties necessitates meticulous tracking and precise reporting. Our expert team offers the following services:

Tracking rental income and expenses: We will assist you in maintaining accurate records of rental income and expenses for each property.

Allocating expenses: In cases where expenses pertain to multiple properties, we will ensure fair allocation to guarantee precise reporting.

Tax return preparation: We will meticulously prepare your UK tax return, ensuring an accurate declaration of all rental income and expenses.

When generating income from rental properties, it is essential to consider various allowable expenses that can be utilised to offset the rental income and minimise tax obligations. Some of the critical costs that can be identified and claimed include:

Mortgage interest: The interest paid on a mortgaged UK property can get relief against Income Tax.

Letting agent fees: Fees paid to a letting agent for managing the property can be deducted as allowable expenses.

Maintenance and repairs: Expenditure on general maintenance and repairs to the property is deductible. (Please note: Capital expenses such as: enhancements or improvements to the property are not allowable expenses.)

Insurance premiums: Premiums paid for property insurance can be claimed as an allowable expense.

Travel expenses: If travel to the UK is necessary for property management purposes, related costs may be deductible. The expenses have to be 100% related to your property renting business.

Utilities and council tax: Payments for utilities and council tax for rental property can be claimed as allowable expenses.

It is essential to maintain detailed records of all expenses. Our team will guide you through the process, ensuring you maximise your allowable deductions and stay fully compliant with tax regulations.