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Tax return service for overseas investors

As your global property partner, Benham and Reeves offers a one stop service to include assistance with UK taxation. We specialise in the preparation of personal tax returns for our overseas clients.

Letting property in the UK

UK income tax is payable on net rental income, after deducting allowable expenses on properties owned within the UK. Landlords must submit an annual self-assessment tax return to HM Revenue & Customs (HMRC), the UK tax authority, to declare any tax payable. Additionally, if your property is valued at over £500,000 and is owned within a corporate structure then an Annual Tax on Enveloped Dwellings (ATED) return must also be submitted. This is the case even if the properties are rented and as such are exempt from paying ATED tax.

UK non-resident landlord scheme

Under the HMRC Non Resident Landlord Scheme, Letting Agents legally have to deduct tax at the basic rate of UK income tax from net rental income (after making deductions for allowable expenses) from all overseas landlords unless they have received approval from HM Revenue & Customs in writing. The scheme applies to all non-resident landlords including individuals, companies, pension funds and trusts.

UK Capital Gains Tax (CGT)

From April 2015 overseas landlords are also liable to capital gains tax when they sell their property. The sale must be reported to HMRC within 30 days of completion and if the vendor has no previous relationship with HMRC any tax liability must be paid at that time.

Taxation service

We can prepare annual accounts, complete self-assessment tax returns, ATED and CGT returns and advise on any payments needed to be made. Details of our current fees can be found here or you can email us here.

Benham & Reeves is a lettings and sales agent (Est.1958) offering a comprehensive tax return service to clients. We provide general guidance to overseas landlords on residential property-related tax matters including the most appropriate structure to purchase a property, completion of tax returns and advice on any tax payments required. We also work with third party specialists who act as tax consultants to our client base.

Benham and Reeves are not tax specialists and all information is for general guidance based on UK legislation. It does not constitute a professional advice, nor does it cover commercial property transactions, the use of Trusts or any tax implications in jurisdictions outside of the UK. We recommend clients or anyone using our tax return service obtains specific professional advice regarding their own taxation affairs.


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