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HM Revenue & custom - how much uk rental income ..

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marco_c View Drop Down
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  Quote marco_c Quote  Post ReplyReply Direct Link To This Post Topic: HM Revenue & custom - how much uk rental income ..
    Posted: 11 June 2010 at 8:02pm

hello everybody!
i have a question
in the form for the HM Revenue & custom i see the question 19:
"approximately how much uk rental income do you receive each year?"
(a) before deductions and (B ) after deductions

should i write 0 being the first year or should i fill it with the rent collected in may and june of 2010
or something different?

thanks a lot
marco

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  Quote Richlist Quote  Post ReplyReply Direct Link To This Post Posted: 11 June 2010 at 10:32pm
What form is it ?
There are many different types.
Comments assume you're in England/Wales, pay under £2083 monthly rent and that your last AST was dated after 6/4/2007. Probably the best landlord in the world - well if its good enough for Carlsberg.
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  Quote marco_c Quote  Post ReplyReply Direct Link To This Post Posted: 11 June 2010 at 10:47pm

thanks for replying me so quickly
i really appreciate
the letting agency asked me to fill this form
hmrc.gov.uk/cnr/nrl1.pdf

to send it to the custom revenue being a no british resident and the custom revenue needs the point 19 filled

unfortunately in the notes i can't see any informations about it

The form is a declaration of rental income for landlords who rent out property in the UK but normally live out of the UK.

the tax return would refer to year ending 5th April 2010 for gross and net income up to that date, not beyond.

so basically i should write 0 pounds because i haven't got any rent since may 2010

am i right?

many thanks

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  Quote Richlist Quote  Post ReplyReply Direct Link To This Post Posted: 12 June 2010 at 8:26am
I'm not familiar with that form but in your shoes I would enter the ACTUAL amount of rent you received for the tax year ending 5th April 2010......gross & net. If that is 0 and there is a box that allows additional information add a note to the effect that you are receiving rents for the current tax year and you expect to receive £X gross & £X net.
 
If this is still to difficult for you ask your agent to help or you will need to see an accountant.
Comments assume you're in England/Wales, pay under £2083 monthly rent and that your last AST was dated after 6/4/2007. Probably the best landlord in the world - well if its good enough for Carlsberg.
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  Quote marco_c Quote  Post ReplyReply Direct Link To This Post Posted: 30 July 2010 at 7:48pm

Hello everybody!

Thanks a lot for your replies

About the property I bought in uk the last December, the letting agency is managing it

The rental income has started from the 27/04/2010

I filled the form to get the NRL1 and the P85 being a no-resident landlord

Now I received a self assessment – notice to complete a tax return for year ended 5 April 2010

Basically till the 5 April 2010 I didn’t receive anything

Do you think I need to fill it even if I filled the others?

Thanks a lot

marco

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  Quote Richlist Quote  Post ReplyReply Direct Link To This Post Posted: 30 July 2010 at 8:00pm
Marco,
I think the best thing is for you to get an accountant to deal with it for you.
Comments assume you're in England/Wales, pay under £2083 monthly rent and that your last AST was dated after 6/4/2007. Probably the best landlord in the world - well if its good enough for Carlsberg.
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  Quote fseoer2010 Quote  Post ReplyReply Direct Link To This Post Posted: 19 August 2010 at 10:41am
In fact, I'm not familiar with that form but in your shoes I would enter the ACTUAL amount of rent you received for the tax year ending 5th April 2010
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