Landlords fee

We are legally obliged to file a tax return stating the name and addresses of our clients with HMRC. If you intend to be an Overseas Landlord at any point during the Tenancy we will be required to deduct 20% tax at source and forward it directly to HMRC unless we have received consent to pay you in full .

If you wish to claim exemption you will need to complete forms NRL1 or NRL2 and send the application form to:
The Centre for Non- Residents (CNR), St Johns House, Merton Road, Bootle, Merseyside, L69 9BB quoting Charters Reference Number NA006026.

With the ongoing changes to taxation on rental properties we always advise that you seek independent financial advice to discuss what costs can be offset against your rental income.

Section 21 | Changes

The deregulation Act 2015 introduced some important changes to how and when a landlord can serve notice to regain possession of his property. The original changes affected all tenancies that started after the 1st October 2015 but as of the 1st October 2018 the rule changed for all tenancies.

This now means that a landlord can not serve notice in the first four months of a tenancy and they must also have fulfilled some compulsory requirements. They will be unable to serve notice if they have not provided the tenant with:

■ A copy of their gas safety certificate.

■ A copy of the government prepared How To Rent Guide.

■ A copy of the properties EPC

■ A copy of the prescribed information relating to the protection of the tenants deposit.

Further more they will be unable to serve notice if the property is not licensed and should have been and if there are outstanding maintenance issues.

Overseas Landlord

If you live outside the UK for 6 months or more and own a rental property in the UK, you will be classed as an Overseas Landlord and will need to comply with the Non-Resident Landlords (NRL) scheme - this has rules about how you pay tax.

This scheme requires UK letting agents such as Kaybridgeresidential , to deduct basic rate (20%) tax from the rent they collect for non-resident landlords. You will be able to set this off against your tax bill at the end of each year.

If a property is jointly owned, each person must pay tax - the income and expenditure is equally divided between the parties. A Non-Resident Landlord may complete an NRL1 form to ask the Inland Revenue not to deduct tax at source - but be aware that approval of this will not mean that the rent is exempt from UK tax.