Overseas Investors

We specialise in dealing with the UK taxation affairs of overseas landlords, be they individuals, limited companies or trusts.

All overseas landlords who receive rental income from their property in the UK are liable to taxation in the UK, although this does not necessarily mean that there will actually be a liability.

The UK tax system operates on a Self Assessment basis and it is up to the ‘taxpayer’ (even if they are non-domiciled & nonresident) to notify the tax authorities of their chargeability and to complete a Tax Return for each and every year of assessable income (ending on 5th April).

It has recently become apparent that many overseas landlords of UK rented property are not dealing with their UK tax obligations and that this could result in unnecessary tax, interest and penalty charges and these will continue to increase until the situation has been rectified by filing all outstanding Tax Returns.

The tax authorities have a wide range of powers to collect theses liabilities, albeit estimated, and this is not a situation that should be allowed to occur.

It may well be that instead of having surplus rental income that there are in fact rental losses, and in this case it is just as important to have these lodged with the Revenue authorities so that they can be utilised in the future. Indeed if you are having tax deducted at source by UK managing agents then we
may be able to obtain a tax refund on your behalf.

In ensuring that any rental profit is reduced as much as possible all direct expenses incurred in relation to the property can be deducted from the income; i.e. service charges, ground rent, letting and managing agent’s fees, repairs, loan interest etc. We will ensure that all other available reliefs are claimed so as to reduce the actual tax liability as far as possible.

In view of the fact that the majority of our clients are based in the Far East (although we do have clients in 13 different countries around the world) we currently travel to Hong Kong and Singapore annually to meet with clients to maintain our relationship on a “face to face” basis.

Please do not hesitate to contact us to discuss any of the above and or provide a quote for our fees.