can he?

zak2012

Hello.my German friend want buy a home in UK cash and rent it out .my question is how much tax he will have to pay ? he lives in Germany and works there as busniess owner.for example if he buy house for around 100k and rent it out for around £500 a month how much he need to pay tax? please any advice ? i dont k ow anything about this but he asked me for advice so i hope you guys can help. thanks

G_M

When he buys he'll pay SDLT.

Rent needs declaring for income tax. Tax amount depends on many factors. See

HMRC (Property taxes eg Income Tax on rent (and allowable expenses to offset tax); Capital Gains Tax, etc)

HMRC (Non Resident [= overseas] Landlord Scheme)

Also read:

* New landlords: advice, information & links


* Letting agents: how should a landlord select or sack?

zak2012

G_M wrote: »

When he buys he'll pay SDLT.

Rent needs declaring for income tax. Tax amount depends on many factors. See

HMRC (Property taxes eg Income Tax on rent (and allowable expenses to offset tax); Capital Gains Tax, etc)

HMRC (Non Resident [= overseas] Landlord Scheme)

Also read:

* New landlords: advice, information & links


* Letting agents: how should a landlord select or sack?

thanks,but is stamp duty for houses above £125k ? i thought u not pay stamp duty if its under £125?

G_M

zak2012 wrote: »

thanks,but is stamp duty for houses above £125k ? i thought u not pay stamp duty if its under £125?

Click on the link in my post!