DHC Accounting

Unit 7, Lillyhall Business Centre
Jubilee Road, Workington
Cumbria, CA14 4HA
Tel: 01900 64464 - Fax: 01900 64466

Search News


Non-Resident Landlords Scheme

Source: HM Revenue & Customs | | 26/04/2017

The Non-Resident Landlord (NRL) Scheme is a special scheme for the UK rental income of Non-Resident Landlords. This includes companies or trustees whose 'usual place of abode' is outside the UK.

As a general rule basic rate tax (currently 20%) must be deducted from the rent payable to a Non-Resident Landlord either by the letting agent or where there is no letting agent by the tenants (unless the rent is minimal) and the tax paid over to HMRC within 30 days of the end of each tax quarter.

By using the NRL scheme a Non-Resident Landlord can apply for approval from HMRC to have any rents paid with no tax deducted. HMRC can refuse an application if it is not satisfied that the information provided by a Non-Resident Landlord is correct or where there are concerns that the landlord will not properly comply with their UK tax obligations. 

HMRC no longer send copies of the Non-Residents Landlord scheme annual return form by post. Instead, the form known as the Annual Information Return (NRLY) is available online. The annual return for 2016-17 is due to be submitted by 5 July 2017.



 

Latest News

When must you register for VAT?
16/08/2017 - More...
The taxable turnover threshold, that determines whether businesses should be registered for VAT is currently £85,000.

BPP holdings Supreme Court decision
16/08/2017 - More...
The Supreme Court has dismissed HMRC’s appeal in a long running case between the BPP Group of companies (who provide

What are overlap profits?
16/08/2017 - More...
The assessment of self-employed or partnership profits is relatively straight-forward if the accounting date, to which

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

 

 

Copyright © 2013 - DHC Accounting

Cookie Policy