Landlords Working Abroad

H.M. Inspector of Taxes requires details of income from all properties in the United Kingdom. Normally, such details are incorporated into a person's Tax Return, but if a client happens to be abroad then the legal responsibility falls upon the owner's Agent.

Therefore if you are working abroad, the income from your property in this country may be subject to a liability tax. H.M. Inspector of Taxes therefore requires us to deduct and account for tax at the current standard rate applicable on a quarterly basis, based on the net income from the property after deducting any expenses and our charges. This applies unless an Exemption Certificate is granted by the Inland Revenue and Handley Gibson Twaites are happy to provide such an Application Form to apply for an Exemption Certificate.

If you have your own Accountants then they will obviously deal with matters on your behalf and we will provide them with copies of each rent statement but regretfully this does not exonerate us from liability, and we are still required to complete the details and calculations and submit this information to the Inland Revenue at the year end. In such an event the charges for dealing with the matter will be approximately £75 per annum plus VAT.

Many landlords resident abroad may be entitled to additional allowances which means that they will have no liability for income tax on their property, however, it is necessary for them to lodge the appropriate claims with the Inland Revenue. Our Accountants, Messrs Mazars, have assisted many of our Landlord clients and agreed with the Inland Revenue that no income tax liability arises on the property income. Details of this service and the anticipated level of costs are available if required.