Landlord Taxes
If you own rental property in the UK, it is important to file a self-assessment tax return. Here’s what you need to know:
- Registration: You must register for self-assessment when you start earning rental income. The tax year for landlords is from 6th April to 5th April, and you need to disclose your property income through a self-assessment return.
- Unique Tax Reference (UTR): Upon registration, HMRC will assign you a unique tax reference number (UTR). This number remains the same throughout your life, even if you later become self-employed. If you are already self-employed, you use the same UTR for reporting rental income.
- Deductible Expenses: You can deduct allowable expenses from your rental income to calculate your taxable profits. Income tax is then applied to the net income amount after deductions.
- National Insurance Contributions: If you are not registered as self-employed, you do not need to pay national insurance contributions on your rental income.
Our Services:
- Registering for self-assessment
- Declaring rental income and deducting allowable expenses
- Preparing and filing your self-assessment tax return
- Acting as your agent with HMRC
- Email and telephone support throughout the year
- Tax planning and advice
We offer fixed fees based on the number of properties you receive rent from. To get started or receive a quick quotation, please fill in the following form for consultations. We are here to assist you with your landlord tax obligations.
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