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UK Tax Compliance for Overseas Property Investors

Did you know…?
 
There are strict legal requirements for reporting rental income to HMRC, the UK Revenue authority, if you are a non-resident company, individual or trust who owns property in the UK.
 
If you don’t register as a non-resident landlord, the UK agent (or tenant if there is no agent) will deduct 20% tax from the rent received and pay only the net to you. The agent will then pass the 20% tax deducted to HMRC.
 
If you receive rental income from property in the UK, you need to register as a non-resident landlord. By registering:

  • You will receive your rent GROSS; no tax will be deducted
  • When you file your annual tax return you will be able to reduce the tax payable by claiming tax relief on finance interest costs and other costs such as managing agents fees, repairs and renewals
  • You may be entitled to tax free profits of £8,105 (2012/2013). If you are entitled to this allowance you will need to file a return to claim it.

How we can help

  • Assisting you in registering as a non-resident landlord
  • Preparing and submitting your tax returns annually

Benefits of using us

Your tax return will be prepared by a qualified person
We are available for meetings in London or by telephone and Skype
The service can be “paperless” including bank level document exchange encryption

In addition to this tax return service our expert partners can advise in every area of investing in property in the UK. 

How it works

Contact us by email or phone.

You’ll be assigned a client service partner who will call you to discuss your circumstances and work out what kind of information we’re going to need from you to work on your tax return and answer any questions you have.
You then send us the information. Some clients send it by email, others transfer the data to their AGK secure web area and others by post.
 We will then:

  • Review all financial information provided by you
  • Prepare the tax calculation and supporting schedules of data
  • Prepare your tax returns identifying and making all beneficial claims and elections to minimise any tax liabilities
  • Review the tax return with you
  • Advise you of the tax due dates and payment methods as well as reminding you of upcoming deadlines
  • File your tax return to HMRC
  • Communicate with HMRC regarding  any tax matters and keep all correspondence records on file
  • Check statements of account issued by HMRC to make sure they are in line with the filed tax return

Pricing

We will prepare and provide a fixed fee quote once we gather some key information from you regarding your circumstances during our initial discussions.