The Non-resident Landlord Scheme (NRLS) taxes the UK rental income of overseas landlords. Letting agents of a non-resident landlord must deduct tax from the landlord’s UK rental income and pay the tax to HMRC.
When adding new overseas landlords into 10ninety, we will automatically deduct NRL tax in their statements if 'Is UK Resident' is unticked:
The NRL tax deduction will appear on the landlord statement at the bottom:
You can track NRL deductions for all your overseas landlord via the NRL Report - Home > Reports > NRL Tax in the second column.
The NRL tax you have deducted can then be marked as paid to HMRC from the report by clicking Mark As Paid, or add any adjustments i.e. a refund to the landlord of tax previously deducted, or a receipt of additional tax by clicking Add Adjustment.
As with any of our reports, the data can also be exported to an excel file or PDF.
The NRL held will also contribute towards the Trial Balance total client monies held. To access this report, you would go to Home > Finance > Trial Balance on the right-hand side menu.
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