Your Ongoing Obligations. The above-mentioned regulations are subject to change and I/ We accept responsibility for ensuring that any amendments to either existing legislation and conditions made mandatory by new legislation are fully met. Under the Taxes Management Act 1970 (as amended by the Income Taxes Management Act 1988) it is a requirement that you inform Complete if you are non-UK resident. The agent is obliged to deduct monies as income tax at the appropriate rate (currently 20% of the net rental amount) to cover any tax liability, which will be paid to Inland Revenue quarterly on the Landlords behalf. Failure to do this could result in penalties, interest and other consequences. If you are a non-resident landlord and wish your rental payments to be made prior to any tax deductions, you must obtain the relevant authorization from the Inland Revenue by completing an NRL1 form and supply Complete with the completed form or exemption certificate & fico number. I am /we are UK resident(s) I am /we are Non UK resident(s) but require my/our tax to be deducted I am /we are Non UK resident(s) and will supply the Inland Revenue certificate before any tenancy commences
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Samples: Letting Agreement