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Please confirm it is oaky .."
Please confirm "what" is oaky?
Roy, thank you for your reply..
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Here is my answer
1. The Accountant will arrange for approval from HMRC to have the rent paid directly to me.
Applications should be made by an individual . Declaration on page 4 clearly states "the form must be signed personally by the non-resident landlord. We cannot accept this form signed by an agent or nominee." see notes on hmrc website under hmrc.gov.uk/cnr/nrl1.pdf. 2. The Accountant will annually submit the self-assessment Tax return on my behalf.
The accountant as your agent can submit the tax return on your behalf.
3. I do not have to use a Letting Agent to manage my properties. I can use my Brother/Sister as the contact on the AST for any issues/repairs.
True, you do not have to use a letting agent to manage your properties.4. If the tenants decide not to renew the term of the AST then I can fly back to the UK to manage the transition of tenants - Tax deductible.
This would only apply if you were managing your properties from abroad. If you are using your brother/sister as the contact on the AST then your travel costs would not be an allowable expense and not tax deductible.5. If I am out of the country for more than 5 "full tax" years and have complied with HMRC rules of being a non-resident and decide to sell my properties, I do not incur any capital gains tax on any of the properties.
True ... more information on it can be found under Q6 on HMRC website hmrc.gov.uk/cnr/faqs_capgains.htm#cg3.
6. Would you be able to confirm if I keep my UK personal allowance
As UK National you will keep your UK personal allowance7. As an adviser, what other tax affairs should I consider before leaving the country?
Please advise HMRC when you leave the country by completing form P85. This will ensure your tax records are updated and you pay the right tax. It can be downloaded from HMRC website hmrc.gov.uk/cnr/p85.pdf.
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