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| *The Commerce Journal>>>United Kingdom Taxes |
Tax experts? |
if one is a non-UK resident will he be liable to pay income tax on his rented property in the uk. Basically, if you are not resident in the UK, you are still liable for UK income tax on any UK sourced income. I would suggest you join the NRL scheme to receive your rents gross of tax. It's not an exemption, you would have to complete a tax return each year. You can minus expenses off your rental income such as mortgage interest, repairs, agent fees, etc. You may also still be entitled to the UK personal allowance. Yes he will have to pay tax either in the UK or in the country he is resident in. Yes on any rental income and capital gains tax if you resell at a profit. Yes he would. You would only be liable for your UK assets however, but beware; you may also be liable in your country of domicile. |
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