Uk Landlords

[chiang mai]

What scheme. Check your facts on HM government inlandrevenue site. Any income derived in the UK is subject to UK tax. If you are nonresident your agent has to my law deduct a withholding tax unless you completethe correct forms for the inland revenue. If you have a house or home that you can use to live inthen the IR may argue you are not non resident. However if you have rentedinvestment property that you never use or cannot use because its always rentedout then you do not have a home for your use in the UK.

Please check the IR site before posting nonsense.

This scheme oh arrogant one!

http://www.hmrc.gov....r_landlords.htm

Mr Chiang Mai or should i answer insult with insult and call you mr Ignorant one I also satisfy the scheme it does not mean you pay no tax it just means your agent does not need to deduct a withholding tax so my comment stands tax is still payable on UK rents even if you are non resident or for that matter not even a UK citizen You pay tax on any UK income but if you are a UK citizen even if your non resident you still get the normal personal allowance. Non Uk citizens with rental income or any other income derived in the UK pay tax on whole amount and have no personnel allowance read IR website properly and you will understand it properly instead of posting nonsense that claims you do not pay tax under the scheme you simply don't have your agent deduct it if your accepted

A few points:

You'd be well advised to re read the entire thread, preferably in the cool and sober light of morning and punctuate future posts so that they're more understandable!

Edited March 1, 2011 by craigt3365
Fixed embedded quotes

[FRM-BKK]

What scheme. Check your facts on HM government inlandrevenue site. Any income derived in the UK is subject to UK tax. If you are nonresident your agent has to my law deduct a withholding tax unless you completethe correct forms for the inland revenue. If you have a house or home that you can use to live inthen the IR may argue you are not non resident. However if you have rentedinvestment property that you never use or cannot use because its always rentedout then you do not have a home for your use in the UK.

Please check the IR site before posting nonsense.

This scheme oh arrogant one!

http://www.hmrc.gov....r_landlords.htm

Mr Chiang Mai or should i answer insult with insult and call you mr Ignorant one I also satisfy the scheme it does not mean you pay no tax it just means your agent does not need to deduct a withholding tax so my comment stands tax is still payable on UK rents even if you are non resident or for that matter not even a UK citizen You pay tax on any UK income but if you are a UK citizen even if your non resident you still get the normal personal allowance. Non Uk citizens with rental income or any other income derived in the UK pay tax on whole amount and have no personnel allowance read IR website properly and you will understand it properly instead of posting nonsense that claims you do not pay tax under the scheme you simply don't have your agent deduct it if your accepted

For what it is worth........... I do NOT hold British Nationality but I do have UK rental income and I do have a full personal UK tax allowance !

Too many cooks...... !?

Unless of course you mean an allowance for staff one would employ (personnel) but that is a different thing all together......

Frm-Bkk

Edited March 1, 2011 by craigt3365
Fixed embedded quotes

[chiang mai]

What scheme. Check your facts on HM government inlandrevenue site. Any income derived in the UK is subject to UK tax. If you are nonresident your agent has to my law deduct a withholding tax unless you completethe correct forms for the inland revenue. If you have a house or home that you can use to live inthen the IR may argue you are not non resident. However if you have rentedinvestment property that you never use or cannot use because its always rentedout then you do not have a home for your use in the UK.

Please check the IR site before posting nonsense.

This scheme oh arrogant one!

http://www.hmrc.gov....r_landlords.htm

Mr Chiang Mai or should i answer insult with insult and call you mr Ignorant one I also satisfy the scheme it does not mean you pay no tax it just means your agent does not need to deduct a withholding tax so my comment stands tax is still payable on UK rents even if you are non resident or for that matter not even a UK citizen You pay tax on any UK income but if you are a UK citizen even if your non resident you still get the normal personal allowance. Non Uk citizens with rental income or any other income derived in the UK pay tax on whole amount and have no personnel allowance read IR website properly and you will understand it properly instead of posting nonsense that claims you do not pay tax under the scheme you simply don't have your agent deduct it if your accepted

For what it is worth........... I do NOT hold British Nationality but I do have UK rental income and I do have a full personal UK tax allowance !

Too many cooks...... !?

Unless of course you mean an allowance for staff one would employ (personnel) but that is a different thing all together......

Frm-Bkk

It is of course incorrect to suggest that only UK citizens are entitled to the personal allowance, as many TV members with Thai wives living and working in the UK will confirm.

Edited March 1, 2011 by craigt3365
fixed embedded quotes

[chiang mai]

But on a separate point, why is "letitbe"s first post in this thread now attributed to "Cardholder"?

[letitbe]

What scheme. Check your facts on HM government inlandrevenue site. Any income derived in the UK is subject to UK tax. If you are nonresident your agent has to my law deduct a withholding tax unless you completethe correct forms for the inland revenue. If you have a house or home that you can use to live inthen the IR may argue you are not non resident. However if you have rentedinvestment property that you never use or cannot use because its always rentedout then you do not have a home for your use in the UK.

Please check the IR site before posting nonsense.

This scheme oh arrogant one!

http://www.hmrc.gov....r_landlords.htm

Mr Chiang Mai or should i answer insult with insult and call you mr Ignorant one I also satisfy the scheme it does not mean you pay no tax it just means your agent does not need to deduct a withholding tax so my comment stands tax is still payable on UK rents even if you are non resident or for that matter not even a UK citizen You pay tax on any UK income but if you are a UK citizen even if your non resident you still get the normal personal allowance. Non Uk citizens with rental income or any other income derived in the UK pay tax on whole amount and have no personnel allowance read IR website properly and you will understand it properly instead of posting nonsense that claims you do not pay tax under the scheme you simply don't have your agent deduct it if your accepted

For what it is worth........... I do NOT hold British Nationality but I do have UK rental income and I do have a full personal UK tax allowance !

Too many cooks...... !?

Unless of course you mean an allowance for staff one would employ (personnel) but that is a different thing all together......

Frm-Bkk

for others your right you can have an allowance if you reside in the UK or under other circumstances but generally if your not a UK citizen or resident in the UK you do not get a personal allowance and all income in UK is taxed. Of course if you decide not to be non resident or are resident the much more costly IH tax at 40% applies to all your worldwide assets and you are liable for tax on all your worldwide income except where double taxation agreements are in place.

Edited March 1, 2011 by craigt3365
fixed embedded quotes

[craigt3365]

Please be careful when editing embedded quotes. Several quotes had been changed in various replies on this thread. Attributing comments made by previous posters to other members.

Thanks!

[PattayaParent]

I have a property in the UK .

My tax bill per year is never over 10 pounds, but I looked at buying another one there when prices were very low but found out that I would be paying 20% of the profit in income tax, then to compound matters I read about the case of the guy who though only spending 90 days a year in the UK was deemed to have business here and was charged a fortune in back taxes.

So I dropped the idea completely, simply is not worth the hassle I could get

If you mean Gaines-Cooper, it was nothing to do with his business.

[PattayaParent]

for others your right you can have an allowance if you reside in the UK or under other circumstances but generally if your not a UK citizen or resident in the UK you do not get a personal allowance and all income in UK is taxed. Of course if you decide not to be non resident or are resident the much more costly IH tax at 40% applies to all your worldwide assets and you are liable for tax on all your worldwide income except where double taxation agreements are in place.

IHT has got nothing to do with residence of UK or any other country.

[chiang mai]

Double Post

Edited March 1, 2011 by chiang mai

[chiang mai]

This thread and strayed and begun to involve some misleading information, for the benefit of the OP and any others who are interested in it and don't fully understand the rules, let me see if I can't simplify a few facts in precise:

UK landlords, resident or non-resident are liable to UK tax on any income that arises in the UK;

In most cases that net income can be offset against personal tax allowances and where these are not exceeded, no tax will be due and payable;

How the tax is paid will vary, an option exists to avoid having BTL agents with hold tax at source but this requires the landlord to join the HMRC scheme described earlier - membership in that scheme does not avoid tax where the UK earnings in total exceeds the total amount of income arising in the UK and this must be repaid by filing an annual tax return;

Virtually all UK tax payers, resident or not, are allowed an annual tax free allowance - one exception to this (and there may well be others) is where a person is not domiciled in the UK and in that event the person will pay an annual charge of GBP 30,000 and not be entitled to any personal allowance;

Inheritance Tax (IHT) is payable by anyone who is domiciled in the UK - domicile and residency are two very separate and different subjects and should not be confused.

[PattayaParent]

This thread and strayed and begun to involve some misleading information, for the benefit of the OP and any others who are interested in it and don't fully understand the rules, let me see if I can't simplify a few facts in precise:

UK landlords, resident or non-resident are liable to UK tax on any income that arises in the UK;

In most cases that net income can be offset against personal tax allowances and where these are not exceeded, no tax will be due and payable;

How the tax is paid will vary, an option exists to avoid having BTL agents with hold tax at source but this requires the landlord to join the HMRC scheme described earlier - membership in that scheme does not avoid tax where the UK earnings in total exceeds the total amount of income arising in the UK and this must be repaid by filing an annual tax return;

Virtually all UK tax payers, resident or not, are allowed an annual tax free allowance - one exception to this (and there may well be others) is where a person is not domiciled in the UK and in that event the person will pay an annual charge of GBP 30,000 and not be entitled to any personal allowance;

Inheritance Tax (IHT) is payable by anyone who is domiciled in the UK - domicile and residency are two very separate and different subjects and should not be confused.

The annual charge of 30k relates to non-domiciled residents of UK and is applicable only after 7 years of residence and is not in relation to income arising within UK. I don't know if personal allowances are available for income arising from within UK.

I don't know what the postion is for non-domiciled non-resident but some posters are saying that there is no personal allowances.

Edited March 1, 2011 by PattayaParent

[chiang mai]

This thread and strayed and begun to involve some misleading information, for the benefit of the OP and any others who are interested in it and don't fully understand the rules, let me see if I can't simplify a few facts in precise:

UK landlords, resident or non-resident are liable to UK tax on any income that arises in the UK;

In most cases that net income can be offset against personal tax allowances and where these are not exceeded, no tax will be due and payable;

How the tax is paid will vary, an option exists to avoid having BTL agents with hold tax at source but this requires the landlord to join the HMRC scheme described earlier - membership in that scheme does not avoid tax where the UK earnings in total exceeds the total amount of income arising in the UK and this must be repaid by filing an annual tax return;

Virtually all UK tax payers, resident or not, are allowed an annual tax free allowance - one exception to this (and there may well be others) is where a person is not domiciled in the UK and in that event the person will pay an annual charge of GBP 30,000 and not be entitled to any personal allowance;

Inheritance Tax (IHT) is payable by anyone who is domiciled in the UK - domicile and residency are two very separate and different subjects and should not be confused.

The annual charge of 30k relates to non-domiciled residents of UK and is applicable only after 7 years of residence and is not in relation to income arising within UK. I don't know if personal allowances are available for income arising from within UK.

I don't know what the postion is for non-domiciled non-resident but some posters are saying that there is no personal allowances.

On the first point: no personal allowances are available under those circumstances.

On the second point: I don't know but probably so, I would imagine, based if only on the preceding.

[letitbe]

for others your right you can have an allowance if you reside in the UK or under other circumstances but generally if your not a UK citizen or resident in the UK you do not get a personal allowance and all income in UK is taxed. Of course if you decide not to be non resident or are resident the much more costly IH tax at 40% applies to all your worldwide assets and you are liable for tax on all your worldwide income except where double taxation agreements are in place.

IHT has got nothing to do with residence of UK or any other country.