NRL1i questions

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    NRL1i questions

    I have to fill out this as an overseas landlord. There is a question that says 'when did you start receiving rental income from this property'.

    Do I take this to mean the first time the tenant paid rent, or the time when the balance wasn't negative because letting fees?


    #2
    HMRC are going to interested in the income not the profit at this point.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

    Comment


      #3
      Originally posted by jpkeates View Post
      HMRC are going to interested in the income not the profit at this point.
      I thought so. I just didn't want to make a mistake. Thanks

      Comment


        #4
        If you hold a UK passport, you are eligible for claiming the personal allowance . So if the annual rental income is below £12K, any mistake will not matter.

        Comment


          #5
          Once this form is completed will it be me or the tenant that received written ok to not withhold tax/ pay tax.

          I do have UK passport and the rent is below 12k a year.

          Comment


            #6
            It'll be you who gets the confirmation from HMRC and you'll need to show that to the tenant so that they can pay the rent without withholding tax.
            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

            Comment

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