Income Tax Act 2007 section 972

Regulations under section 971

Section 972 sets out the detailed scope and content of regulations that HMRC may make under section 971 concerning income tax on non-resident landlord income.

• Regulations may cover how income tax on non-resident landlord income is calculated, when and how it must be paid to HMRC, and the interest charged on late payments or paid on refunds
• Representatives of non-resident landlords may be required to register with HMRC, issue certificates to the non-resident, make returns, supply information, and make records available for inspection
• Interest paid or received under these regulations is handled gross — it is paid without deduction of income tax and is ignored for all tax purposes when calculating income, profits or losses
• The regulations may make different provision for different cases, include transitional rules, and can modify the operation of payments on account of income tax under the Taxes Management Act 1970