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(clip-9) Hire a Room Reduction and Non Resident Landlord – jj

(clip-9) Hire a Room Reduction and Non Resident Landlord

Rent a Room Relief is available to individuals if they are using a lodger or renting one of their rooms in their main residential property. If the gross income is less than 7,500 pounds, they can claim rent a room relief and they don’t need to notify to the HMRC for tax assessment. If the gross rent is more than 7,500 pounds, they can elect to be taxed at rent a room relief, which means that they will only be liable to pay income tax on the gross rent above 7,500 pounds.

Non Resident Landlord: If a person is a non UK tax resident and they have investment property in the UK, then the tenants or the managing agent shall deduct 20% tax from the gross rental payments made to the landlord.

A non resident landlord can claim gross rent if they join the Non Resident Landlord Scheme, which means they need to notify the HMRC (and they can claim all the expenses under the Non Resident Landlord Scheme and pay income tax via self assessment tax returns).

Rent a Room Relief
Lodger rental Income
Tax advice
Property income
Property tax
property tax
Tax assessment
Income tax
Rental income
Self assessment tax
Non Resident Landlord Scheme
Non Resident property income

Please contact the team at IBISS & CO for assistance and for more information:
0203 808 0999



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