Those lucky landlords who have the luxury of living abroad in warmer climes. I'm hoping to join you in the not too distant future. Perhaps Palma, Majorca or somewhere with a relaxed tax regime such as Belize.
However, absent landlords need to take note of the latest guidance just released by the UK government on paying tax on rent to landlords abroad.
It appears that there is no escape for UK landlords living abroad even for more than 6 months a years under the Non-resident Landlord Scheme (NLS) which requires tenants paying over £100 per week in rent or letting agents to collect the tax from the rent and pay it direct to the Government unless HMRC informs them that this is not required.
Yet another example of Government using us all as their own unpaid little tax collector. Anybody who has a business that is registered for VAT will know all about this.
Guide on landlord income tax
Tuesday, December 09, 2014
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