Taxation: Rental Income

Lord Howarth of Newport Excerpts

Tuesday 3rd December 2013 Lords Chamber

[Lord Newby]

My Lords, that is basically how this scheme operates. A letting agent has to take some 20% of the rent and pay it over to HMRC for the non-resident landlord.

[Lord Howarth of Newport (Lab)]

My Lords, is the noble Lord able to confirm what I have been told—and I do not know whether this is correct—that in France, if you are a non-resident owner of residential property, you are taxed on the rentable value of that property whether or not you have let it? Does he know whether that is the case; and if it is, does he think that it is worth considering introducing it here?

[Lord Newby]

My Lords, I do not know whether that is the case. I think that I might take advice from the noble Lord, Lord Lawson of Blaby.