Rental property taxed?

[EllaOlla]

If I don't live or pay tax in the UK but a British citizen and I own a property in the UK that I rent out, do I need to pay tax on the income of this rent? TIA

You need to register as a non resident landlord

www.gov.uk/government/publications/non-resident-landlord-application-to-have-uk-rental-income-without-deduction-of-uk-tax-individuals-nrl1

Hope that helps!

Thank you!

You will probably need to fill out a tax return for this and pay any tax due.

Yes you do if your income is above the personal allowance (approx 11k)

That's net profit. You can deduct agency fees, building insurance etc

Thank you. Clearly, this is not my strength. Other than asking on a message board, where would I find this info out? Do people have financial advisors or is this something people ask their solicitors about? Or via websites?

I've always been PAYE so have never really engaged with tax or finance stuff.

Help me become a proper grown up

Tax is always due somewhere on all income. Depending on treaties it's not normally due twice. The US tends to be an exception though.

Yes to registering as a none resident landlord - always assuming you ARE non resident for tax purposes!
Yes to registering for self assessment.
You can earn up to the tax free limit in the UK, and be tax exempt. Rental profit is included in this.

Check the tax position of where you are currently living. They may wish to know about your world wide income.

I am a non resident landlord, and have to declare my rental income to HMRC, whether or not I have made a profit. The form takes about half an hour by the time I've worked out total rent in, less agents fees, insurance, repairs, chimney sweep, boiler service, gardener, mortgage interest etc.

Ring them up and ask for a SA form.

Yes definitely. If you are using an agent they can pay it over each month or you can undertake to do so by completing a form. Some countries will also tax you on the property value locally.

www.gov.uk/tax-uk-income-live-abroad/rent

If you have a tax accountant wherever you live they may complete the sa, for a fee, but it is not that arduous.