Landlords Information
Overseas Landlords
Even if you are not a permanent resident in the United Kingdom the profit made from rental income after the deduction of allowable expenses is subject to UK income tax. However, under current legislation, as the Letting Agency acting for you we are required BY LAW to withhold tax from rental income (Unless exempted by written authority from the Inland Revenue). Landlords can apply to the Inland Revenue's Financial Intermediaries and Claims Office (FICO) for approval to receive their rent with no tax deducted. Please note Lettings Agency cannot pay the gross rent to a Landlord until receiving written confirmation of the same from the Inland Revenue.
You can contact the Inland Revenue direct or speak to a qualified accountant to have your tax position confirmed. It is best to get this sorted out in the beginning.
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