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Renting out my place in the UK

Renting out my place in the UK

Old Mar 14th 2013, 5:53 am
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Default 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?
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Old Mar 14th 2013, 7:38 am
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Default Re: Renting out my place in the UK

But are you getting paid gross tax or nett tax by your Tenants?
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Old Mar 14th 2013, 8:20 am
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Default 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.
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Old Mar 14th 2013, 8:25 am
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Default Re: Renting out my place in the UK

Mentalist, I get the rent without any deductions (well, only the agency fee).
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Old Mar 14th 2013, 9:07 am
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Default Re: Renting out my place in the UK

Originally Posted by Lady Penelope 2
Mentalist, I get the rent without any deductions (well, only the agency fee).
If the agent is not deducting tax then the agent must have received the authority to pay you the gross rent from HMRC. Ask your agent.
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Old Mar 14th 2013, 10:06 am
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Default 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.
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Old Mar 14th 2013, 12:37 pm
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Default Re: Renting out my place in the UK

Originally Posted by mentalist
But are you getting paid gross tax or nett tax by your Tenants?
The owner's tax situation makes no difference to a tenant. They don't deduct the tax! You may be confusing tenants with HMRC...
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Old Mar 14th 2013, 2:04 pm
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Default 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.
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Old Mar 14th 2013, 4:50 pm
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Default Re: Renting out my place in the UK

Originally Posted by Lady Penelope 2
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.
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.
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