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bigduckontax
bigduckontax, Accountant
Category: Tax
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I need to know how to declare my rent from an apartment that

Customer Question

I need to know how to declare my rent from an apartment that I am renting out in Liverpool. I live in Dublin so I don't have a national insurance number as I've never lived in the UK. I am a British citizen, was born in Belgium and lived there until I moved to Dublin to go to University. I've just started working, probably 6 months or so. The rent that I was receiving from my apartment in Liverpool covered part of my expenses while I was studying in Dublin.
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I'm Keith and happy to help you with your question.
As a British Citizen, even as a non resident. you are liable to UK Income Tax on your net rental income. You are entitled to your Personal Allowance of 10K [14/15 rates] to offset this income. You receive no benefit for the fact that it was funding your education.
This Gov UK web site gives general information on the subject:
https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief
You pay the tax either through making a self assessment tax return, which is mandatory if the net rental exceeds GBP 2500 pa, or by your letting agent deduct the tax on your behalf before paying the balance to you. If the net rental income is going to be below your Personal Allowance then you can complete a form NRL1i which directs the letting agent not to deduct tax.
For fuller information on property rentals see this Gov UK web site:
https://www.gov.uk/renting-out-a-property/paying-tax
I do hope that I have helped shed some light on your position.

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