Search Results for "#rental-property"
Do I have to pay tax on my rental income?
Yes, you may be liable to pay tax on your rental income and further details can be found on the HMRC website. If you are going to be overseas, you will need to complete form NRL2 for approval to receive your rental income without tax deducted, otherwise your agent must deduct the tax at the basic rate and account to HM Revenue & Customs (HMRC); if your tenant is going to be paying the rent direct to you, then your tenant must deduct the tax and account to HMRC.
What makes a 'build to rent' property different to a normal rental property?
The main differences are that the building is occupied by renters! There is no hierarchy, every resident is equal. ‘Build To Rent’ properties are owned by one landlord (usually a company) and are managed professionally, which means no more waiting for your landlord to get back from holiday to fix your leak. Many schemes offer residents flexibility in the length of the tenancy, from 6 months to over 3 years, and developments are generally based in a central location, close to transport links.
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