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Non-Resident Landlord Specialist Letting Agents in St Albans

We've been renting an apartment from Let Me Property for almost a year (until moved to our own) and this is our best experience of renting. I can't recommend this agency high enough. I rarely write reviews. But this time I was so impressed and pleased with our experience that I decide I should do it! They are very professional, very attentive and the most importantly, you always feel that you are dealing with REAL PEOPLE, not silly office machines. When we were applying for the property, Gregory explained us absolutely everything in such details, that I though it's a joke at first! But such an attitude of HONESTY and willingness to help we could feel then throughout all our renting period. All the team is praiseworthy. Just communicate with them (they replied on my emails mostly within half an hour), read the documents they send (sometimes it looks like it's a bit too much to read, but the language is very simple and they provide all information in a very organised manner and with all charges there, so you KNOW WHAT TO EXPECT from the very beginning) and I'm sure you will be absolutely happy with their services!Yana Kondratyeva

HMRC (the UK Tax Authorities) require that any landlord who lives outside the UK for 6 months or more each year, register with the Non-Resident Landlord Scheme, and at Let Me Properties letting agents in St Albans, we are specialist letting agents for for overseas landlords.

We are registered Non-Resident Landlord Scheme Letting Agents and can provide specialist help and advice to landlords who live (or will be living) outside the UK, unlike many other letting agents in St Albans.

 

Non-Resident Landlord Specialists:

Let Me Properties specialise in fully managing properties for overseas landlords. Landlords who live outside of the UK for 6 months or more each year are considered “Non-Resident Landlords”

We make it extremely simple for landlords to rent their properties in St Albans from overseas with as little involvement by them as possible. We have never met many of our landlords, and some of them have never even seen their properties before. If you are an overseas landlord and you want a completely hassle free solution for renting your property in St Albans, then Let Me Properties are the letting agents for you!

 

Receiving Rent Without Tax Deducted:

Landlords are advised to receive “Approval” from HMRC to receive their rent without any tax deducted from it. This is a simple process and you can read more about how to do this here:

https://www.gov.uk/government/publications/non-resident-landlord-application-to-receive-uk-rental-income-without-deduction-of-uk-tax-individuals-nrl1i

Once Landlords have “Approval” we as Specialist Agents for Non-Resident Landlords can collect their rent and pay it to them without tax deducted from it.

 

Live Outside The UK for 6+ Months Per Year?

Landlord who live outside the UK for 6 months or move each year are required to register with HMRC and are required to use a Letting Agents who is registered with the Non-Resident Landlord Scheme.

 

Let Me Properties are Specialist Agents for Non-Resident Landlords

Landlord who are resident outside the UK for 6 months or move each year are required to register with HMRC (Revenue and Customs)and are required to use a Letting Agents who is registered with the Non-Resident Landlord Scheme.

Read more on HMRC website

 

Trusting Let Me Properties to Manage Your Property

When landlord as overseas it is even more important to choose a letting agency that they can trust. We have vast experience dealing with overseas landlords and looking after their properties as though they were our own.

 

The below is courtesy of HMRC (https://www.gov.uk/tax-uk-income-live-abroad/overview)

You usually have to pay tax on your UK income even if you’re not a UK resident. Income includes things like:

 

  • pension
  • rental income
  • savings interest
  • wages

If you’re eligible for a Personal Allowance you pay Income Tax on your income above that amount. Otherwise, you pay tax on all your income.

The country where you live might tax you on your UK income. If it has a ‘double-taxation agreement’ with the UK, you can claim tax relief in the UK to avoid being taxed twice.

You don’t normally pay tax when you sell an asset, apart from on UK residential property.

 

When tax isn’t due or is already deducted

Non-residents don’t usually pay UK tax on:

 

  • the State Pension
  • interest from UK government securities (‘gilts’)

If you live abroad and are employed in the UK, your tax is calculated automatically on the days you work in the UK.

Tax on your savings interest is deducted by your bank or building society unless you give them form R105.

 

When to report your income to HMRC

You usually have to send a Self Assessment tax return if:

 

You don’t need to report your income to HMRC if you’ve already claimed tax relief under a ‘double-taxation agreement’.

 

Sending a Self Assessment tax return

You can’t use HMRC’s online services to tell them about your income if you’re non-resident. Instead, you need to:

 

Fill in the ‘residence’ section (form SA109 if you’re sending it by post) to tell HMRC you’re non-resident. Fill in any sections relating to your type of income.

You’ll be fined if you miss the deadline – it’s earlier if you’re sending your return by post (31 October).

 

If you’ve overpaid

Apply for a refund if you think you’ve paid too much tax. This might happen if tax is deducted automatically (eg by your bank) but your total UK income is below your Personal Allowance.

Send form R43 to HMRC, or claim the refund in your Self Assessment tax return if you’re already doing one.

Find Out More on HMRC Website

Absolutely great service and great communication, can't fault Gregory and his team. Sophie Sykes

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