Irrespective of where you live Income Tax is payable on all rental income.

A landlord must declare rental income on a Self Assessment Tax Return. If you are not automatically issued with a Self Assessment Tax Return Form it is your legal responsibility to notify the Inland Revenue.

You must under self assessment regulations keep records to ensure that the figures calculated on the returns are accurate.

Deductible Expenses

Deductible expenses that could be used to reduce profit derived from property income are:-

  • Letting Agent Fees
  • Insurance
  • Ground Rent
  • Repairs and Maintenance
  • Loan Interest
  • Legal and Accountancy Charges

Tax: Non – Resident Landlords

Legislation regulating non – resident landlords and their letting agent greatly differs from resident landlords.

The rent receiving letting agent has a statutory obligation to deduct basic rate tax on income, and make payments to the Inland Revenue quarterly.

You can as a landlord apply to the Inland Revenue to self assess your own tax.
These application forms can be obtained from the Inland Revenue or Mapleleaf Letting Centre.

Once you have received approval from the Inland Revenue, Mapleleaf Letting Centre will be authorised to pay you the rent without deducting the tax at source.