News0 min ago
unearned income
2 Answers
from renting out my old house. i know i have to declare it, but i dont know who to! any help please?
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You need to complete a tax return. Contact your local tax office to get the relevant form. Follow the the link from here:
http://www.hmrc.gov.uk/sa/need-tax-return.htm
(NB: Remember that the tax man is only interested in your net income from renting out the property. Don't forget to show all expenses (which should be deducted from the gross income), such as the costs of mandatory annual gas safety check (if relevant), general maintenance, etc.
Chris
http://www.hmrc.gov.uk/sa/need-tax-return.htm
(NB: Remember that the tax man is only interested in your net income from renting out the property. Don't forget to show all expenses (which should be deducted from the gross income), such as the costs of mandatory annual gas safety check (if relevant), general maintenance, etc.
Chris
You will need an additional page to the standard form called Land & Property. You will also need to declare on the main part of the form all of you bank interest, wages etc. Also showing what deduction of PAYE was made. You can also claim mortgage interest as an expense should you have a mortgage on the property
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