UK tax return services for Indian investors

As your global property partner, Benham and Reeves provide a complete service, including help with UK tax matters. We specialise in preparing personal UK tax returns for our Indian clients.

Tax for letting a property in the UK

UK income tax is charged on the net rental income after deducting allowable expenses. Landlords must submit an annual self-assessment tax return to HM Revenue & Customs (HMRC) to report any tax owed. If your property is valued over £500,000 and held in a corporate structure, an Annual Tax on Enveloped Dwellings (ATED) return is also required, even if you are exempt from paying the ATED tax because the property is rented.

UK non-resident landlord scheme (NRLS)

Under the HMRC non-Resident Landlord Scheme (NRLS), letting agents are legally required to withhold basic-rate UK income tax from net rental income (after allowable expenses) for overseas landlords unless written approval is granted by HMRC. This applies to all non-resident landlords, including individuals, companies, pension funds, and trusts.

UK capital gains tax (CGT)

Since April 2015, overseas landlords must pay capital gains tax when selling UK property. The sale must be reported to HMRC within 30 days of completion, and if the seller doesn’t have a previous relationship with HMRC, any tax owed must be paid at that time.

Taxation service

We can help prepare annual accounts, complete self-assessment tax returns, ATED and CGT returns, and provide advice on any payments that need to be made.