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Tax Guides

Non – Residential Tax Guides

Are you a non-resident landlord?

Are you a non-resident landlord? From 6th April 2013, the Statutory Residence Test came into effect. Firstly, you need to consider the automatic tests to determine whether or not you are resident in the UK.

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Self assessment for overseas landlords

Our guide to Self assessment for non-resident landlords.

 

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Penalties for late filing or payment

Failing to submit your return on time will heighten the likelihood of HMRC selecting you for an enquiry.

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Non-resident landlord companies

All non-resident landlord companies must pay UK corporation tax.

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Non-resident tax return

If you’ve moved away from the UK, you might still have to complete a tax return, particularly if you’re renting out property.

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Double Tax Agreements (DTAs)

It’s crucial to understand that if you’re a resident in the UK, you’ll be taxed on your global income for tax purposes.

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Automatic exchange of information

HMRC is actively working to prevent and address tax non-compliance, including tax evasion, through various means. One such method is through agreements on Automatic Exchange of Information (AEoI).

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Stamp Duty Land Tax rates for non-residents

Stamp Duty Land Tax (SDLT) is a tax levied on the purchase or acquisition of property or land above a certain threshold in England and Northern Ireland.

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Tax returns and your responsibilities as a non-resident landlord

If you’re renting out a property in the UK and you’re a non-resident for tax purposes, you’re required to fill out a UK self-assessment Income Tax Return.

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The statutory residence test and the tax implications in the UK

To put it briefly, if you spend 183 days or more in the UK during any tax year, you are considered a resident in the UK for tax purposes.

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Residency and domicile

It’s beneficial for individuals to understand the distinction between residency and domicile. Let us clarify.

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Split year treatment

An individual is considered resident in the UK when they either arrive in the UK or depart permanently during the tax year.

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Reporting and payment of Capital Gains Tax on UK property

All disposals of UK properties must be reported, and Capital Gains Tax must be paid within 30 days of the sale’s completion.

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Capital Gains Tax for non-residents

If you sell a residential property in the UK, you are subject to tax on the capital gain.

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Self assessment for non-resident landlords

As of 6th April 2013, there are automatic tests to determine whether you are a resident in the UK.

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