Retaining Tax For Overseas Landlords

Retaining Tax For Overseas Landlords

Retaining Tax For Overseas Landlords

 

 

 

- Click on the 'Spanner' icon in the top bar.

- This will bring up the 'Sage Company List' window. Double click on the appropriate Sage company.

- This will take you to the 'Company' window for the selected Sage company.

- From here click on the 'Client Nominals' tab from the bottom of the window.

- You will need to make sure that a % is entered for the 'Default Tax Reserve Rate'.

- Click 'Save' from the top left of the screen when you are happy that the correct value has been entered.

- Go to the 'Landlord' module.

- Double click on the Landlord to open the record.

- Down the right hand side of the property record fill in the following:

 

> Statement By - 'Individual Properties'

> Tick 'Include Tax Report'

> Residency

> Approval No - Enter Inland Revenue No.

> Tick 'Retain Tax'

 

- Once entered, click 'Save and Exit'.

- When you create the Landlord Statement you need to choose 'Property' by clicking on the arrow to bring the drop down list.

- Once you 'Add to Statement' you will see the 'Tax' charges.

 

 

 

For More Information Please See The Attached Document


    • Related Articles

    • How do I retain tax on behalf of a landlord.

      When you want to retain tax at the standard rate on behalf of a landlord go into the landlord record and select, tick, the Retain Tax option in the right hand column. Save the landlord record. That is it. When you receipt rent and go to produce a ...

    • Clearing Receipts to the Landlord

      Go to the ‘Tenancy’ module, select the relevant Tenancy and click on ‘Tenancy Receipt’ This will bring up the 'Receipt' window with the tenancy details pre-selected Before Posting a receipt please check the following: The bank account details are ...

    • Retaining Funds for Repairs

      Retaining Funds for Repairs     - Go to the 'Landlord ' module and double click on the Landlord from whom you wish to retain funds for repair. - In this screen down the right hand side you need to change 'Statement by' to 'Individual Properties', - ...

    • How do I create a one off landlord invoice or credit note.

      From the landlord module click on Landlord Invoice on the landlord menu and the landlord invoice form will appear.  You can use this form for two reasons. A. To charge a landlord for something and the charge will appear as a deduction on a statement, ...

    • Landlord Adjustment

      Landlord Adjustment     A Landlord Adjustment is a transaction that you wish to appear on the 'Landlord Statement' such as opening balance.   - Go to the 'Landlord' module and click on 'Landlord Adjustment' this will bring up a new window. - Click on ...