Below is a brief summary of the service we can provide if you are a non-resident landlord.
If you are preparing for leaving the UK:
- Deal with form NRL1 – Application for exemption from the non-resident landlord tax scheme. Failure to obtain an exemption will result in tax deductions being made at source.
- Apply for the Inspector’s agreement to your residence position, which will determine the extent of your UK tax exposure, and review your circumstances to highlight areas where tax savings may be made.
When you are abroad:
- Correspond with your letting agent to obtain details of rent received together with expenses paid
- Prepare the necessary sections of the UK self-assessment tax Return Form. In all cases this will include the land and property module. Where the property is owned jointly, a tax return will be needed for each owner.
- Calculate your tax liability and agree this with the Inspector of Taxes
- Notify you of payments on account required by the Inland Revenue and advise you if a reduction should be made.
Prior to your return to the UK we shall:
- Complete a full review of your tax position and advise you of any measures you need to take prior to your return to the UK to mitigate any potential tax liabilities
- Correspond with the Inspector to ensure that you are provided with your full entitlement of allowances on your return.
Back office services
We we offer a range of outsourced back office services because we know that the last thing you need when running a business is thinking about more paperwork.
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Business start-ups
You’re an entrepreneur with a great idea and the vision to realise it. We’re here to help you do just that.
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Personal Tax planning
At Chandlers we offer a personal tax planning service tailored to your individual needs. This includes advice on minimising tax liability for all personal taxes.
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Overseas landlords
We prepare all the necessary documents before leaving the UK, manage your affairs whilst abroad and advise you of any measures you need to take prior to your return to the UK.
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VAT
Time is everything when you’re growing your business. At Chandlers our VAT compliance and planning services relieve you of the time-consuming burden.
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Self assessment
If you miss deadlines, deliver incorrect returns or fail to retain or present appropriate records the Inland Revenue will penalise you. Let us spare you all the headaches.
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Inheritance tax planning
All too often we meet clients who are shocked at how much of their inheritance is taken from them before they even see it!
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Tax investigations
In recent years HM Revenue and Customs (HMRC) has got tough on non-compliance, regularly carrying out random enquiries.
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