Quick Search
What's New
i is for Inclusive
18 May 2012
In 2012 we want to give you the A-Z of reasons why scottfraser should be your agent of choice.
Understandably, most landlords are concerned about outgoings when letting their property.
In addition to a monthly agent commission there are often ancillary charges for inventories, safety certification and deposit registration which can make budgeting difficult. That is why our i is for Inclusive.
Tax Matters
Rental income is liable to tax. If you are a UK based landlord, scottfraser will remit rental income to you gross, less fees and expenses. You are then responsible for your own tax affairs. Therefore if you are not accustomed to dealing with H M Revenue & Customs (HMR&C) or making annual tax returns, we strongly recommend that you employ an accountant on your behalf to deal with this for you.
scottfraser have teamed up with Shaw Gibbs to provide our landlords with tax advise factsheets which may be downloaded using the links below. Shaw Gibbs also offer scottfraser landlords a free of charge one hour consultation. To book please speak to the lettings team who will put you in touch with an advisor.
Tax Matters for Landlords - Popular FAQs
Capital Gains Tax Issues for Landlords - Popular FAQs
Non-Resident (Non-UK) Landlords - Popular FAQs
If you are living abroad, you may be considered to be an overseas landlord and required to register your status with HMR&C by completing an NRL1 Form. scottfraser will then add their details to your NRL1 form before submitting it to HMR&C on your behalf. Until such time as HMR&C confirm that a landlord is registered with them on this basis, scottfraser are legally obliged to deduct tax at the prevailing rate before remitting the balance to you.
From time to time HMR&C will also ask us for information relating to rental payments paid to landlords. We are legally obliged to provide them with this information.
For more information on HMR&C and to download an NRL1 form please follow the links provided.
"Having used scottfraser to look after my apartments, I have found them to be personable, professional and trustworthy. I have therefore recommended scottfraser to my business associates, family and friends, as their operation is far slicker than the competition which I have tried and tested."
