Letting a property
Non resident landlords
Tax Implications for Non-Resident Landlords.
Rental income is liable to UK income tax. If the landlord is resident overseas, WAE are liable to tax on his behalf, as his agents, unless the landlord has made a successful application for a certificate permitting his rent to be paid without any income tax deduction. In the former situation, WAE will retain tax at the appropriate rate from all rent collected by them, and place it on deposit with their bankers, with interest accruing to the landlord, until the liability or the waiving of it is paid and/or established. WAE will apply the retained monies in such payment. WAE will charge a fee of £50 for every quarterly payment that WAE make to the Inland Revenue. WAE do not offer tax advice and the landlord is recommended to seek such advice from his solicitors or accountants. In the event that WAE are required to make any payment on behalf of a landlord to the Inland Revenue not covered by any such retention, such payment will be immediately reimbursed to WAE by the landlord, together with interest as applicable.
