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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I rent out my 2 bedroom flat in london for £13000 250 a year

Resolved Question:

i rent out my 2 bedroom flat in london for £13000 250 a year how much tax do i have to pay i lived abroad t you michael
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise if you are paying any expenses against this rental income. If you are then your rental income less allowable expenses would be chargeable to income tax.

You state that you live abroad. I take it you are regarded as non-resident in the UK for UK tax purposes.

If you are a UK National living abroad, you would still be able to claim your personal allowance is if you were residing in the UK. The personal allowance for this tax year is £10,600. If your only income from UK is property income then your maximum tax against it (assuming you are entitled to personal allowance) would be (13,250-10,600) x 20% = £530. if you were not UK National then the maximum tax is £2,650.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes