Expatriates who have rental income from a UK property have until 5 April to calculate property incom...
Expatriates who have rental income from a UK property have until 5 April to calculate property income profits or losses, according to chartered accountant group Mason Law. Rental income arising from UK property is chargeable to UK tax for individuals at lower 10%, basic 22% or higher 40% rates. Where a landlord is non-resident, basic rate tax must be deducted at source by the landlord's agent or by the tenants themselves and the tax passed over to the Inland Revenue on a quarterly basis. The agent must give the non-resident landlord an annual statement showing details of the tax deducted...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes