Overseas Landlords
When you’re far away it’s even more important to know that your most important asset, your property, is in good hands.
Your property is often your biggest asset, so choosing the right letting agent is important, so here are the main reasons to choose Castle Estates South Manchester:
On the legal side there are extra considerations for overseas landlords – we help you understand them and address them in an efficient manner. What you need to be aware of:
- We will have to verify your identity and get proof of ownership as we start working together.
- We offer advice and guidance regarding the Non Resident Landlord scheme – Full information on the Non Resident Landlord scheme.
- We will provide you with application forms to receive UK rental income without deduction of tax. Download the tax exemption form.
- For joint overseas landlords a tax exemption form and number will be required for each landlord.
- If you apply for tax exemption we can forward you the gross rental income and provide an annual statement which is suitable for use by HMRC. We will charge £50 per year for the submission of the annual statement.
- If you do not register for tax exemption, the basic tax rate (currently 20%) will have to be deducted from the rent and paid to HM Revenue and Customs (HMRC) each quarter – in this case we will submit accounts to HMRC on a quarterly basis and send you a certificate on taxes paid on your behalf; we will charge £50 per quarter for the submission of accounts.
- You must provide your tenant with an address in England or Wales that the tenant can serve notice to – this can be the address of your managing agent. This is required by the Landlord and Tenant Act 1987.