RENTING? Check your LL has permission to let that property.

franklee

ticket2ride wrote: »

If a landlord is based overeas permanently, do they have to pay HMRC tax on rental income they earn from property in the UK?

The rent remains liable to UK tax, the LL includes it in any tax return from HMRC. How this is done is here:

"The Non-Resident Landlords (NRL) Scheme is a scheme for taxing the UK rental income of non-resident landlords."
http://www.hmrc.gov.uk/cnr/nr_landlords.htm

Any particular reason for asking

ticket2ride

franklee wrote: »

The rent remains liable to UK tax, the LL includes it in any tax return from HMRC. How this is done is here:

"The Non-Resident Landlords (NRL) Scheme is a scheme for taxing the UK rental income of non-resident landlords."
http://www.hmrc.gov.uk/cnr/nr_landlords.htm

Any particular reason for asking

There is such a landlord in our flats, who I would like to be sure is paying their taxes!

Is this something the HMRC would pursue if I brought it to their attention?

franklee

ticket2ride wrote: »

There is such a landlord in our flats, who I would like to be sure is paying their taxes!

Is this something the HMRC would pursue if I brought it to their attention?

I suspect they would be interested but unless the landlord has registered to receive rent with no tax deducted it's the UK agent or if no UK agent it's the tenant who is responsible for collecting the tax.

myvisitor

We moved into the property 3 years ago signing a tenancy agreement. I had no experience of renting as I owned my own property from about 20 years old. Unfortunately, 3 years ago, I lost everything and had to sell my house to a quick buy company. All my troubles resulted in a bad credit record. I had to find a home to rent which was foreign territory, I also had taken out an IVA , no letting agent would look twice at me unless I had six months rent upfront, which I didn't. I took up a private rental that I saw in the local newspaper. We have never defaulted on the rent. we both work full time. However we pay £650 per month and I am worried that the landlord may be a bit dodgy. The house is damp and our bathroom is horrific.

The landlord came around about 3 months ago and asked if me and my partner would go out whilst he saw someone from the dwp, he is claiming that he still lives at this address. We know what he is up to, but don't want to lose our home.. (we have a little dog as well)

Today he arrived asking how we pay our council tax, and that he wants to put up the rent but to include council tax in his name. I am worried about my partner, as he cant sleep for worrying that he is breaking the law. The landlord has said to dwp that he is my partners brother in law.
We have just gone along with it, do we have any choice?

My partner was made redundant in November, but we dare not claim any benefits such as housing, or council tax because we think this will land the landlord in the !!!!, and we will lose our home. I just wish we could rent a home from someone who is honest, and not have all this to worry about. My partner has a new job so that has worked out ok.
We have also had the usual repo letters, to the occupier. However, he has always seemed to sort this out, but now, I am gravely worried
Any help would be gratefully accepted

flyingcat_2

I have a property with residential mortgage. Due to job location change I am thinking about to rent it out vs sell it. Can anyone tell me know if I ask for a rent consent from lender, what would be the cost? Would I be forced to switch to BTL mortgage? My lender's BTL mortgage at moment is a killer.

Many thanks.

lala9

Being very lazy and not having read the majority of these posts, can someone tell me what happens if someone is discovered that they have rented their house out but not notified their mortgage company. Can you tell from the land registry entry if someone has changed their mortgage to a BTL. Who do I notify if this is the case?

lala9

lala9 wrote: »

Being very lazy and not having read the majority of these posts, can someone tell me what happens if someone is discovered that they have rented their house out but not notified their mortgage company. Can you tell from the land registry entry if someone has changed their mortgage to a BTL. Who do I notify if this is the case?

Anybody help here?

Grogged

lala9 wrote: »

Being very lazy and not having read the majority of these posts, can someone tell me what happens if someone is discovered that they have rented their house out but not notified their mortgage company. Can you tell from the land registry entry if someone has changed their mortgage to a BTL. Who do I notify if this is the case?

The mortgage company can impose charges as per the original mortgage agreement.

The credit reference agencies offer a service to check on new occupiers for this very purpose (i.e. to see if anyone has moved in who is not the mortgagee).

Unless the lender on the land registry is a BTL provider only, then it won't be of much help.

flyingcat_2

Anyone know the cost to obtain a lender's consent for renting out property?

MissMoneypenny

flyingcat wrote: »

Anyone know the cost to obtain a lender's consent for renting out property?

You will have to ask your lender what they charge.