Timato

I am a UK citizen who currently completes a self assessment tax return for a rental property I own. I am now planning on moving to live in republic of Ireland and have a number of queries. I understand that from the date I am deemed to be non-resident in UK I will be required to complete a self assessment tax return for the relevant period using software purchased from a HMRC approved third party. I would also need to complete a NRL1 in order to continue to receive my rental income without tax being deducted. Just checking that this correct? I am thinking of trialling living in Ireland for a year or so during which time I will keep my house in the UK which is my current resident and which I own. After this trial period living in Ireland I expect to sell my house in the UK. In this scenario I would continue renting my UK rental property and want to know if the following is correct:- I will continue to submit a self assessment declaring UK rental income until such time as I sell my UK home (assuming it's within a year of moving to Ireland) upon which time I will become a non-uk resident and will submit a non-resident self assessment return as described above? With regards the NRL1 application, are the names of tenants a mandatory requirement? In the past I have experienced frequent turnover of tenants and downtimes in rental, it would be quite onerous to submit a NLR1 each time there is a change of occupancy on my rental property. Also do I have to put down the date of the current tenancy start or the date I began renting her property? As a non resident landlord would I continue to receive the £12,750 personal allowance on my income through my non-uk resident self assessment return or would I need to complete a R43 form ? I think the DTA between UK and Ireland allows for 100% personal allowance to be applied? Do Irish tax authorities need to be advised of my UK rental income and is this something HMRC will do or do I need to do myself? Thank you!

Hi I own a property solely. I wish to declare beneficial interest of the property to my wife so we can share the rental income on a 50/50 basis and both include this income in our respective SA tax returns. I have read a lot of HMRC guidance and forum responses and am having trouble trying to interpret some of it as there seems to be contradictions. Is this the correct way to go about it?:- 1) Draft a 'Declaration of Trust' or is it a 'Deed of Assignment' or a 'Deed of Trust' or are all of these basically the same thing? The wording would be as follows and would not require to be sent to the HMRC I, [Your Name], hereby declare that I intend to create a trust to transfer 50% of the entire rental income generated by the property described as [Property Description]to my wife, [Wife's Name], without the transfer of legal ownership. By making this declaration, I acknowledge that [Wife's Name] is entitled to 50% of any rental income derived from the property. There would be no change to the legal title of the property. 2) As the property is solely owned, there is no requirement to submit a form 17 3) No need for any further action or is there another HMRC requirement in this scenario? Many thanks for your help.