Quote:
Originally Posted by Trillion195
Paul & Lisa
Been in Oz 7 months now and having tried to sell, decided to rent out UK property with local letting agent. Things to bear in mind...11% for full management service, 22% tax (which the letting agent is legal bound to deduct) plus, plus. Be sure to know how the letting agent intends to adminster your tax back to taxman. You can offset tax paid with expenses to rent out, council tax paid whilst property available to rent. Insurance for tenants differs from owner occupation..not as simple as I first thought, but its all cash..best of luck. T
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You can get your rent paid gross you just need to get clearance from the IR and pass the certificate to your Estate Agent, probably easier to do before you go.
Some Estate Agents charge 15% + VAT for their full service so shop around.
Deduction should now be 20% not 22% as the basic rate of tax was lowered in April.