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UK INDIVIDUAL TAX
Taxation of Rental Income in the UK

Tax is chargeable on the profits arising from the rental of property in the UK.

The profit (or loss) is calculated using ordinary accounting principles. By concession, where gross annual receipts are £15,000 or less, a cash basis may be used.

Gross income less certain allowable expenses give the taxable profit.

NON UK - RESIDENT LANDLORDS
Where a landlord is resident outside the UK, tax has to be deducted at source by the agent for the property (or if no agent, the tenant). However, 'non-residents' may apply to the Inland Revenue for approval to receive their UK rental income without deduction of tax if certain conditions are met.