Once your application is approved
Once your application is approved, HMRC will issue us a notice to confirm that no tax needs to be deducted from your rent before remitting the rent to you.
It should be remembered that acceptance to NRLS is an approval to receive rental income gross. It is not an exemption from tax liability and you still need to arrange to have your income assessed and tax paid to HMRC separately.
If you have not yet appointed a tax accountant, we would be more than happy to refer you to our trusted accounting associates who are able to assist you with all your UK tax affairs.
In cases where you already held NRLS status with a previous agent other than RentLondonFlat.com, you will need to write to HMRC and request a change of letting agent on their records, and to provide given them with our agency reference code as above. This is because such NRLS notices are not transferable between agents or tenants, and we are obliged to deduct tax as described at the start of this guide until we receive contrary notice from HMRC.