UK Rental Property - Living Overseas

M.A.

Does anyone know what your tax obligations are if you live overseas and you rent out your property in the UK?

eeja

Yes you pay normal income tax on the income of property in the UK but if the rent is less than your personal allowances and expenses regarding the property then no tax would be due. Oherwise you will be taxed and the tenants are obliged to deduct the tax and forward it to the revenue unless you obtain a certificate of exemption when the tenants will not have to do this.

M.A.

Thanks

Does that mean if the property is in joint names and the income is less than both your personal allowances together there will be no tax to pay?

eeja

Guess so...seems logical