UK Resident Landlords
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| Overview |
| Forms to get you started |
| Fees |
| Useful notes for agents |
| HMRC Guidance |
| Frequently Asked Questions |
| Rates & tables |
| Maintaining your records |
| Technical notes |
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| Overseas Resident Landlords |
| Company Info |
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Rates & tables
Income Tax
| Personal (tax free) Allowance | 2011-12 | 2012-13 | |
| Up to 65 yrs | £7,475 | £8,105 | |
| For those aged 65-74 | up to | £9,490 | £10,500 |
| For those aged 75+ | up to | £10,090 | £10,660 |
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| Income Tax Rates Amount in excess of personal allowance |
2011-12 | 2012-13 | |
| Income chargeable at 20% (basic rate) | first | £35,000 | £34,370 |
| Income chargeable at 40% (higher rate) | next | £35,001-£150,000 | £34,371-£150,000 |
| Income chargeable at 50% (additional) | excess over | £150,000 | £150,000 |
For 2012-13 there is a 10% starting rate for savings income only, with a limit of £2,710 (2011-12 - £2,560). If an individual's taxable non-savings income is above this limit then the 10% starting rate for savings will not apply. For those with income over £100,000, the personal allowance is reduced by £1 for every £2 in excess of £100,000 so that those earning over £116,210 in 2012/2013 have their personal allowance completely removed.
Capital Gains Tax
| Individuals annual exemption | 2010-11 | 2011-12 |
| £10,100 | £10,600 |
Special rules apply on the disposal of leasehold interests of less than 50 years.
Where a property has been at any time the principal residence of the taxpayer
and all or part of the property has been let as residential accommodation then
the gain attributable to the letting is reduced by the lower of a) an amount
equal to the part of the total gain that is exempt because of owner occupation
and b) £40,000. 