Renting out my place in the UK
#1
Just Joined
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Joined: Mar 2013
Location: Qatar
Posts: 18
Renting out my place in the UK
Have been renting out my place in the UK for around 8 months. Completed and submitted the NRL1 Inland Revenue Form (Non-resident landlord scheme - application to receive rental income without deduction of tax) last August. To date I havent heard anything from the Inland Revenue, is no news good news?? Do they give you a decision or just hit you with a bill in April if the application is denied?
#2
BE Forum Addict
Joined: Aug 2011
Posts: 2,578
Re: Renting out my place in the UK
But are you getting paid gross tax or nett tax by your Tenants?
#3
Re: Renting out my place in the UK
When I moved out of the UK and completed this form before leaving I didn't get any acknowledgement, just got paid the rental income without any tax deducted. I guess if your tax status then changes it's up to you to notify them again and/or complete a tax return.
#4
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Joined: Mar 2013
Location: Qatar
Posts: 18
Re: Renting out my place in the UK
Mentalist, I get the rent without any deductions (well, only the agency fee).
#6
Forum Regular
Joined: May 2011
Posts: 35
Re: Renting out my place in the UK
I filled the form out for one property I own a few years back and I received confirmation that they would not deduct tax.
#8
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Joined: Mar 2013
Location: Qatar
Posts: 18
Re: Renting out my place in the UK
Just been advised by the Lettings Agency that they received a tax exemption certificate last summer from the Inland Revenue.
Thanks for all the advice/posts.
Thanks for all the advice/posts.
#9
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Joined: Jan 2010
Posts: 605
Re: Renting out my place in the UK
To clarify you are not tax exempt. You will need to complete a tax return and declare the rent. You have received as UK taxable income. You can offset all of your associated costs, including agent fees, mortgage interest etc. But you will have to pay tax on any net income received above your personal tax allowance.