Landlord Information Pack

TAXATION OBLIGATIONS FOR OVERSEAS LANDLORDS AND LETTING AGENTS

Receiving Income Gross

Each legal owner of the property will require form NRL1 which can be obtained from our office. This will enable you to apply to Inland Revenue for payment of the net income without deduction of income tax. If your application is approved by Inland Revenue they will send to us a Tax Exemption Certificate which will remain valid until such time the letting ceases or the exemption is for any reason revoked.

Condition for Gross Payment

The Inland Revenue will impose conditions upon you before issuing us with the Tax Exemption Certificate. In order to achieve gross payment the following must apply:

1. It is essential that your tax affairs are up to date.

2. You must agree to fully comply with the requirements of Self Assessment including payments of tax on account during the year and the filing of any Self Assessment Income Tax Return which Inland Revenue requires on time. Failure to comply with either of these conditions will result in Inland Revenue withdrawing the Exemption following which we will be instructed to commence withholding tax.