Letting your home
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Overseas Landlord
When letting property and collecting / paying rents for landlord(s) overseas, agents / tenants are obliged by the Taxes Management Act 1970 to deduct monies equivalent to the basic rate of income tax to cover any potential tax liability.
In many cases the landlord’s tax liability is minimal when all allowances are deducted. In order for rents to be paid without the need for tax deducted at source, the landlord should complete an NRL1 form (available from our office or here) to apply for an approval number. This will enable the agent / tenant to pay the rent to the landlord without deducting tax at the basic rate of income tax at source.
