UK tax Personal allowance for Singapore citizens
I am a Singapore Citizen living in Singapore and this is my first time investing in UK property.
Recently, I bought 2 Student Accommodation in UK. A Letting Agent, specialising in managing student accommodations, has been appointed by the developer to manage the property for me.
This Letting Agent will collect the rental fr the students, attend to repairs and maintenance, pay all bills and expenses, etc etc, and gives me a return of 10% of my purchase price annually for 5 yrs. I do not even have to pay this Letting Agent any fees for 5 yrs.
The developer tells me that I can apply to HMRC for NRL schenme to receive rent with no tax deducted.
My questions are:
1) Am I entitled to any allowable deductions or relief or Personal Allowance of GBP 9440 since I do not pay anything but only collect 10% pa rental?
2) Am I entitled to apply for this scheme? If so, how?
Looking forward to your reply soon.
Thank you n best regards,