Once a quarter Re-Leased will allow you to pay any Non-Resident Landlord Tax to HMRC that has been retained. This will be done using a specific disbursement profile. You will need to take the following steps:
- Ensure you have the specific disbursement profile for HMRC payments setup.
Ensure you have HMRC with their bank details setup as a Company in Contacts.
Ensure you have an expense code for Tax Payments setup in your chart of accounts. You must ensure that this code is set to NOT withhold Tax.
After the end of the quarter day you will be able to select the disbursement profile to pay any Non-Resident Landlord Tax retained.
Select HMRC as the Tax Authority to pay from the drop down list, then select the chart of account setup for tax payments to HMRC
You will be presented with a list of Owners you are retaining Non-Resident Landlord Tax on behalf of. Individual payments to HMRC will be made for each Owners Tax.
Download the bank file and finish the disbursement as you would any other disbursement.
The selected Non-Resident Landlord reports will be prepared and available shortly.