If you live abroad and are letting a UK property, our professional non-resident landlord property management teams can undertake any and all aspects relating to the management of your property to secure and maximize your investment and your revenue.
To learn more about the property management for non-resident landlord services we provide, contact our experts at 02070550441.
Trusted by landlords from over 100 countries, our property management teams deliver unparalleled knowledge and local market experience to ensure your property is letting-ready and set up to attract a large number of potential tenants as well as bring you the most income. Using our extensive international network, they will promote and market your property to all the right audiences and coordinate viewings.
To safeguard your property and guarantee your satisfaction, our teams will also perform all required tenant checks and property inspections, as well as coordinate required maintenance and repair works and manage rent collection and renewals, so you won’t ever have to worry about a thing.
No matter where you are in the world, you can contact us around the clock and we will answer any inquiries, offer comprehensive support, and provide unrivalled services.
What Is a Non-Resident Landlord?
A non-resident landlord is a person (individual, company, a partnership, or a trustee) letting a UK property and collecting rental income from it who is living outside the UK for more than 6 months every year.
What Is the Non-Resident Landlord Scheme (NRLS)?
The Non-Resident Landlord Scheme (NRLS) is a government scheme that regulates tax on UK rental income that applies to non-resident landlords.
Non-resident landlords must join the ‘Non-Resident Landlord Scheme’ or have a letting agent registered with the NRLS representing them that will pay tax on rents due to the landlord.
The NRLS requires the due tax imposed by the HM Revenue & Customs (HMRC) on non-resident landlords be withheld by the landlord’s UK letting agent or their tenant whenever the rent is above £100 a week.
The tax rate is 20% minus deductible expenses such as costs relating to accounting, advertising, inventories, or maintenance.
Non-Resident Landlord Obligations
Non-resident landlords can have the tax deducted at the source or receive the gross income. If the tax is not deducted at the source by a letting agent, landlords must apply for approval at the HMRC.
Tenant Obligations Under NRLS
For landlords who do not have a letting agent, the tenant can withhold the tax on rental income.
Letting Agent Obligations Under NRLS
Letting agents managing the letting properties of non-resident landlords withhold the due tax and submit an annual return to the HMRC stating the rent they collected on behalf of the landlord.
Letting agents are apply for the NRLS no later than 30 days as of the start of the tenancy, calculate the due tax for each quarter, and pay it to HMRC no later than 30 days as of the end of each quarter. They also submit the quarterly return (form NRLQ).