Landlord Information Pack

TAXATION OBLIGATIONS FOR OVERSEAS LANDLORDS AND LETTING AGENTS CONTINUED

Our Obligations

If we receive a Tax Exemption Certificate our only tax obligation will be to inform Inland Revenue at the year end of the gross income collected on your behalf in respect of the property or properties we manage on your behalf. The calculation of all tax liabilities and settlements thereof will be your personal responsibility. In circumstances where we are instructed by Inland Revenue to withhold tax we will indicate on our statements the amount held and will then be required to remit the tax withheld to Inland Revenue on a quarterly basis. At the end of the year we will then be required to submit a detailed information return to Inland Revenue which will include rents collected, expenses paid and tax withheld and accounted for during the year. We will also provide you with a certificate confirming the amount of tax withheld and paid to Inland Revenue. In view of the introduction of Self Assessment we do recommend that you seek professional assistance. We are able to refer you to firms of Chartered Accountants who have departments specialising in Expatriate Taxation and who have extensive knowledge concerning the taxation issues of property letting for Overseas Landlords. These accountants work closely with us in order to ensure that all aspects of your property letting are dealt with professionally. We would recommend that you apply to receive your income gross.

If you would like to receive further information concerning these services please contact our office.