From 1 April 2020, non-UK resident landlord companies are subject to corporation tax on rental profits arising on their UK properties. HMRC has recently updated the relevant section of its Corporation Tax Manual which sets out that the financial statements must be filed by non-resident landlord companies with UK rental profits (but no UK permanent establishment).
The manual now makes clear that iXBRL financial statements are required if these are prepared under an accounting standard supported by an XBRL taxonomy accepted by HMRC (such as UK GAAP, IFRS and US GAAP).
If the company’s accounts are not prepared under an accounting standard supported by an XBRL taxonomy accepted by HMRC, such accounts should be submitted as a PDF attachment to the online return. This must also include a UK GAAP/IFRS profit and loss account for the UK property business in iXBRL format and using the corporation tax computational taxonomy.
The various scenarios are set out in table format in the following standalone document:- Company Tax Returns: format for accounts forming part of an online return.