P85 not filed - non res for 17 years!

[UKExpat3070]

i moved abroad in 2001. did not file a P85. i remain abroad and am confident i am in compliance with the UK non residency rules. earlier this year i purchased a property from which i receive rental income. i know i need to submit a return this year. i also, set up a company that purchased two properties, i know by virtue of being a non res director i am required to file a return, i have no received a div from the company so no income to declare.

i have spent small fortune getting advice from a supposed regional firm, they billed by the hour and essentially repeated extracts of info available.

question: how do i regularize my non res status with the revenue, i want to do this before i submit my first return,.

anyone know of a decent firm that i can engage, dont mind paying for good advice and support to execute. i am keen to normalise my status before getting whacked with a fine or something.

any help would be appreciated.,

[etf]

Completion and submission of a form P85 is not a statutory filing requirement, although in certain situations it will trigger a UK tax refund for the tax year of departure from the UK.

The period you have been absent from the UK is wholly covered by the UK self assessment system. Under self assessment you are obliged to notify HMRC if you have income or capital gains that require a UK tax return to be completed. Assuming in the period you have been absent from the UK, you have had no such income/capital gains and have indeed qualified as non-UK resident throughout, you may not have anything to worry about looking back.

Since 6 April 2013, the UK statutory residence test has operated to establish whether you are UK resident or non-UK resident. If you wish to qualify as non-UK resident under the 3rd automatic overseas test (full-time employment overseas) the record keeping requirements are quite onerous.

As a non-resident landlord, I suggest you complete and submit a NRL1 form to HMRC. If HMRC accept your application, they will authorise your letting agent (or tenant if you don't use a letting agent) to pay you your rent gross without tax withheld at source. The application should also lead to HMRC issuing you with a unique taxpayer reference number if you don't already hold one.

KR

etf

www.theexpatriatetaxfactory.com