Complete tax return service for Japanese property owners in London

Japanese landlords and property owners in the UK are required to complete their personal tax assessments in accordance with the current laws for overseas and non-resident owners.

Property leasing in the UK

Rental income acquired from letting out a property is taxable in the UK. While HMRC (His Majesty’s Revenue & Customs) allows certain expenses to be shown for tax breaks, declaring income and submitting self-assessments are mandatory.

For properties valued over £500,000 and owned in a company structure, landlords also need to submit an ATED (Annual Tax on Enveloped Dwellings) return. Even if the property is rented out and exempt from tax, you still need to submit an ATED.

Non-resident landlord scheme (NRLS)

According to NRLS, letting agents are required to deduct the basic tax before from net rental income before disbursing rent to the landlord. Unless the landlord has prior written approval from HMRC, this rule applies to all non-resident landlords. The scope of this scheme also includes companies, trusts and pension funds along with individual landlords.

Capital Gains Tax (CGT) in the UK

The sale of an additional property, whether by a local or overseas owner, is subject to Capital Gains Tax in the UK. Sellers are required to inform HMRC about the sale within 30 days of completion and pay the correct CGT amount within that time frame.

One-stop tax return services for Japanese landlords

Most Japanese landlords prefer working with a local expert to ensure proper compliance with tax rules. We take care of the necessary documentation, such as self-assessment tax returns, ATED and CGT returns.

Our services are accurate and up to date with the latest tax laws. By completing tax returns on time, we help our clients avoid fines owing to delays and payment lapses.

You can get in touch for a free consultation and to know more about our fees for tax services.