I am intending to live over seas, what are the tax implications?
A. If you live over seas then the Inland Revenue will see you as a non-resident landlord. Unless you have been approved by the Inland Revenue to be exempt from paying UK tax, then our accounts department will deduct tax at the basic rate on the net value of the rent that you receive, on a quarterly basis. You can make an application for exemption from paying tax if you are planning on living overseas, a form is available from our office if required. If the property is owned in joint names or there are multiple owners then an exemption for each named owner will be required.
