What do I need to do if I am a landlord with rental properties?
If you own rental property personally you are required to register for self-assessment and include your rental income in your tax return as a landlord if your rental income is:
- £2,500 to £9,999 after allowable expenses
- £10,000 or more before allowable expenses
If your rental income is between £1000 and £2500, you need to advise HMRC, but may not need to prepare a personal tax return.
When you sell the property you will need to calculate and pay tax on any gains made.
HMRC have a host of information for landlords here.
How can we help with your landlord accounts?
We'll help you through the whole process including:
Regular reminders throughout the year, requesting relevant information for your return
Expert support and advice
Optimise your tax efficiency by identifying any potential reliefs you may be able to claim
Calculate your tax/refund due and provide a schedule of payments
Complete and file your return on your behalf
Deal directly with HMRC on your behalf
Preparation of capital gains calculations and returns on sale of property
Questions
Here are some answers to common questions we get asked. Please let us know if you'd like to discuss any questions you have and we'll see how we can best assist you. Alternatively, Contact Us.