The partners, all chartered accountants, have extensive commercial and business experience and manage the Fawcetts operations, ensuring excellent client service. They are:
To support Fawcetts clients, our staff are recruited for their specific qualifications, experience and business knowledge. In addition to working within professional accountancy practices, many staff have worked in commercial, service and manufacturing organisations. As a result we fully understand the realities and challenges of managing businesses. We are able to use this practical experience to the benefit of our clients. Staff are normally allocated to work with individual clients providing continuity of contact, and the development of a thorough understanding of their business requirements.
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If you have lived abroad for six or months or more in a year, you are classed as a “non-resident landlord”, and the income you receive from renting out your home whilst abroad is taxable in the UK.
This needs to be declared to HM Revenue & Customs (HMRC), but you do not necessarily need to file a tax return.
Non-resident landlords can choose to be taxed in one of two ways:
- Through self-assessment (SA). SA tax returns must be filed by the 31 January deadline if you do it online, or by 31 October if you choose to do it by paper. If you haven’t registered for SA, you must do so by 5 October.
- At source, deducted by your letting agent or tenant.
If you choose to get your rent in full and pay tax via SA, you’ll need to fill in a form NRL1i, found here. If previous tax returns are outstanding, or if tax is owed, your application may not get approved.
Even if you are a non-resident landlord, your £11,500 personal tax allowance still applies.
You might also need to pay Capital Gains Tax if you make a gain when you sell residential property in the UK.