RELOCATION BLOG
Do You Have to Pay Tax?
When renting a residential property in the UK, the tenant must pay Stamp Duty Land Tax (SDLT) if the rent is over a certain rental amount in England and Northern Ireland, Land and Buildings Transaction Tax (LBTT) in Scotland, or Land Transaction Tax (LTT) in Wales (as of 1st April 2018).
The value thresholds are £125,000 in England and Northern Ireland, £145,000 in Scotland, and £180,000 in Wales (as of 1st April 2018).
In the UK, most tenancies are created when both parties to the agreement, the landlord and the tenant, sign a tenancy agreement before the start of the tenancy.
However, there are some instances where a tenancy agreement does not exist, for various reasons. We recently helped a customer who relocated to the UK and found a property to rent from a private landlord who had chosen not to use the services of a letting agent in order to save a few quid. We wold usually only recommend taking a property through a letting agent but due to a dire lack of availability in the area, the customer had little choice.
For those of you considering relocating to the UK, this provides information about the UK rental market, types of housing available, and utility and media information.
Please note that there is a lot of legislation involved in the UK lettings market, most of which is very out of date and inadequate, so be sure to speak to a property expert before you sign a tenancy agreement or hand over any money. Our Front Office Consultants and Personal Coordinators have a two-step validation process to make sure all tenancy agreements are legal and suitable for the tenant
