28 March
Full time – Letting Negotiator based in our office in Barrow in Furness Salary approx. £22,500 with scope dependant on…
When you start to rent out property this is known as untaxed income. Therefore you should inform HMRC straight away when you start to receive rental income. This can be done online or via the telephone however you may wish to appoint an accountant. By informing HMRC you will receive a self-assessment form where your rents can be detailed along with your other income.
Tax is payable on the net rents after the deduction of expenses. Expenses can include:
The tax rate is the rate of tax you fall under with your other income however beware as rental income could put you in a higher bracket.
We take our advice from local Chartered Accountants J F Hornby & Co whom we are happy to recommend. They are a family run organisation who are extremely attentive and will ensure you receive the maximum amount of tax relief available. They act for many landlords in the area some of which have numerous properties therefore they are very experienced. To contact them please visit www.jfhornby.com or call 01229 588077 and ask for either Paul or Tom who would be happy to help you.
Customer Comments
We have used PC Lettings for many years... They offer a comprehensive service for both tenants and landlords. Well done PC lettings team!
K.Brears
Latest from PC Lettings!
28 March
Full time – Letting Negotiator based in our office in Barrow in Furness Salary approx. £22,500 with scope dependant on…
27 February
More houses needed in Spring 2024 for various customers including BAE and Royal Navy.
More houses needed in Spring 2024 for various customers including BAE and Royal Navy. With a good start to the…
Read More “More houses needed in Spring 2024 for various customers including BAE and Royal Navy.”