Taxation and my rental property

Rental from property is subject to tax. If you are a resident in the UK, you will need to make an annual tax return after taking into account any allowable deductions. If you will not be resident in the UK you are strongly recommended to advise the Inland Revenue FICO (Financial Intermediaries and Claims Office) and apply for exemption from tax deduction at source. We can provide the relevant application form for this purpose. If you fail to obtain exemption, we will be obliged to deduct tax from the rent and pay it over to the Inland Revenue for which additional costs will be incurred. It is important that you disclose your residence in our Service Agreement, whether in the UK or abroad. Note: When the property is in joint ownership an application form must be completed for each individual. If in doubt, please consult your tax advisor.