tax laws

[H block]

Just wondering if we have any accountants on here who know whether an overseas resident but UK passport holder would have to pay tax on a rent he might receive from a property that he owns over here ?
ta muchly

 

[Seagull over NZ]

Just wondering if we have any accountants on here who know whether an overseas resident but UK passport holder would have to pay tax on a rent he might receive from a property that he owns over here ?
ta muchly

Yes he would. If he is doing it through a reputable letting agent they will probably deduct at source anyway as he is non resident.

 

[Storer 68]

If it is regarded as income (and it probably would be), and depending how much it could be, possibly capital gains

 

[Lady Whistledown]

For more advice, write to Mr H. Redknapp, Sandbanks, Poole, Dorset.

 

[HantsSeagull]

If it is regarded as income (and it probably would be), and depending how much it could be, possibly capital gains

I don't think you will find it's CGT. It is purely income that he would have to declare to HMRC. I have a friend who is in similar situation and he just does a UK tax return for his UK rental income.

 

[Bedsex]

But if he's also taxed on this income in the jurisdiction that he is resident, he may be able to claim double tax relief, dependent upon the terms if the treaty.