Tax Matters

Rental income is liable to tax. If you are a UK based landlord, Hamiltons 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.

Hamiltons have teamed up with taxdoctor.co.uk to provide our landlords with a simple, fixed-price tax return service. More information can be found here.

If you are living abroad, you may be considered to be an overseas landlord and required to register your status with HMRC by completing an NRL1 Form. Hamiltons will then add their details to your NRL1 form before submitting it to HMRC on your behalf. Until such time as HMRC confirm that a landlord is registered with them on this basis, we are legally obliged to deduct tax at the prevailing rate before remitting the balance to you.

From time to time HMRC 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 HMRC and to download a NRL1 form please follow the links provided.

Want to find a home with Hamiltons? Start here...

Want to find a home with Hamiltons? Start here...