Owners of UK rental property who live outside the UK are obliged to register for UK taxes whether any tax is due or not. Chinese citizens living outside the UK are taxed in the UK at 20% on all profits from rental until their total UK income exceeds £37,700 (£37,500 for 2020-21) and higher rates apply thereafter. British and EEA citizens living in China are entitled to the UK “Personal Allowance” a £NIL rate band that means the first £12,570 (£12,500 for 2020-21) of profit from rental may be tax free and profits between £12,570 and £50,270 (£50,000 for 2020-21) are taxed at 20%. Higher rates apply to UK income in excess of £50,270 (2021-22 rates).
In most countries the tax suffered in the UK may be used as a credit against the local tax on the same income. Normally this credit may not exceed the local tax due.
WHAT WE CAN DO FOR YOU
We offer the quick and easy way of dealing with UK tax for landlords. If you live in China and have any UK income you are obliged to tell HM Revenue and Customs about it and this means you will have to complete an income tax return.
We will compile your lettings accounts and then add any other UK income. We then calculate the UK tax liability before emailing you the UK tax return for approval before filing it with HMRC. We will also deal with all the reporting necessary when you sell a UK property. We also offer a service to deal with the special taxes where you have high value property held through a company (ATED).
There are penalties for failing to file returns. Let Landlords Tax Services make sure you don’t get caught out!
If you are a landlord we offer a very quick and easy way for you to deal with your UK tax obligations. Our service is fixed fee and to see our charges click here. We deal with our clients by email and so there is no need to visit the accountant. Unlike some, we have been operating for over fifteen years and have very long client retention.
We have the skill and experience to deal with the UK tax affairs of Chinese landlords quickly and easily. To find out more about how we can help you use our contact page to send us a note about your situation. We will send to you an indication of what we could do and the fee for you to consider.
We will compile your lettings accounts and then add any other UK income. We then calculate the UK tax liability before emailing you the UK tax return for approval before filing it with HMRC. We will also deal with all the reporting necessary when you sell a UK property. We also offer a service to deal with the special taxes where you have high value property held through a company (ATED).
There are penalties for failing to file returns. Let Landlords Tax Services make sure you don’t get caught out!
If you are a landlord we offer a very quick and easy way for you to deal with your UK tax obligations. Our service is fixed fee and to see our charges click here. We deal with our clients by email and so there is no need to visit the accountant. Unlike some, we have been operating for over fifteen years and have very long client retention.
We have the skill and experience to deal with the UK tax affairs of Chinese landlords quickly and easily. To find out more about how we can help you use our contact page to send us a note about your situation. We will send to you an indication of what we could do and the fee for you to consider.