non resident landlord scheme, rental income taxation help
Mar 12th 2013, 6:58 am
#16
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Joined: Jan 2010
Posts: 605
Re: non resident landlord scheme, rental income taxation help
I understood that council tax was only deductible when paid by the landlord when the property is empty. Otherwise the tenant is liable for payment of the council tax ?
Mar 12th 2013, 10:09 am
#18
Bored liberal
Joined: Feb 2007
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Re: non resident landlord scheme, rental income taxation help
Oh look, there I go being helpful again
Mar 12th 2013, 10:11 am
#19
Shark Fisherman
Joined: Feb 2012
Location: Doha
Posts: 4,568
Re: non resident landlord scheme, rental income taxation help
That's just the form. The full guidance is here: http://www.hmrc.gov.uk/international/nr-landlords.htm
Oh look, there I go being helpful again
Oh look, there I go being helpful again
This is what rubs people up the wrong way.
Mar 12th 2013, 10:21 am
#20
BE Forum Addict
Joined: Nov 2009
Posts: 3,096
Re: non resident landlord scheme, rental income taxation help
landlord will only have to pay council tax when property empty for a certain number of months - can't remember exactly how many
Mar 12th 2013, 10:23 am
#21
Bored liberal
Joined: Feb 2007
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Re: non resident landlord scheme, rental income taxation help
Carry on if you like...
Mar 12th 2013, 10:47 am
#22
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Re: non resident landlord scheme, rental income taxation help
That's just the form. The full guidance is here: http://www.hmrc.gov.uk/international/nr-landlords.htm
Oh look, there I go being helpful again
Oh look, there I go being helpful again
The OP needs to complete this form he does not need to read the full NRL guidance which is all to do with the procedures for the tenant deducting tax and for payment to HMRC etc.
Council tax is only a deductible expense if the property is empty and is ready for renting. Otherwise we would all be claiming back tax on tax.
My advice is simply based on what my tax accountant tells me to do in similar situations and which I believe are specifically relevant to the questions asked.
Mar 13th 2013, 12:53 am
#23
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Re: non resident landlord scheme, rental income taxation help
Rates, utilities and council tax are only deductible under certain circumstances, i.e. where the property is empty or shared lets. Normally (i.e. in 99% of leases) the tenant is responsible for such costs and so are not deductible.
There is also the useful 10% wear and tear allowance (i.e. 10% of the gross rental income). Other allowances include property management fees, letting agents fees, insurance fees.
Mar 13th 2013, 2:21 am
#24
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Joined: Jan 2010
Posts: 605
Re: non resident landlord scheme, rental income taxation help
Rates, utilities and council tax are only deductible under certain circumstances, i.e. where the property is empty or shared lets. Normally (i.e. in 99% of leases) the tenant is responsible for such costs and so are not deductible.
There is also the useful 10% wear and tear allowance (i.e. 10% of the gross rental income). Other allowances include property management fees, letting agents fees, insurance fees.
There is also the useful 10% wear and tear allowance (i.e. 10% of the gross rental income). Other allowances include property management fees, letting agents fees, insurance fees.
Mar 13th 2013, 11:09 am
#25
Forum Regular
Joined: May 2011
Posts: 35
Re: non resident landlord scheme, rental income taxation help
Do you mean can rental income be part of your personal allowance? If so, yes. Rental income is UK income, but the gross amount can be reduced by both mortgage interest payments and some other costs.
http://www.hmrc.gov.uk/international/nr-landlords.htm
You know where I am if you want anything else
http://www.hmrc.gov.uk/international/nr-landlords.htm
You know where I am if you want anything else
Best get completing the form!.
B
