Dear Friends,
I hope you can help, as nobody to date in the offices of HMRC anywhere has been able to advise me how I can proceed with this matter.
I have been asked to register for UK Corporation Tax a company incorporated in the British Virgin Islands. This company owns a property in London which it is renting to a third party. An agent is collecting the rent, but will not release it to the company without a UK Corporation Tax Reference Number.
HMRC were to get someone who knows about these things to call me back within two working days. Four have elapsed since and I need to deal with this soon. Does anybody know the procedure in such instances? Which Tax Office deals with it?
Many thanks,
Martin Downey
Replies (5)
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Is the company UK resident or not?
If the latter, it is likely to be subject to Income Tax not Corporation Tax for UK source income (like rental income).
http://www.hmrc.gov.uk/worksheets/2012/sa750.pdf
Agreed
It sounds as though the company is actually non-resident and needs to register under the non-resident landlords scheme. See HERE for contact information.
As such it would be liable to UK Income Tax at the basic rate of 20%, rather than Corporation Tax.
More info on corporation tax
In case you need more info on corporation tax here in the UK: