As a landlord, regardless of whether you make a profit on your rental income, you are required to fill out a tax return to show the amount of money you have received and spent on your properties.
Your tax return will also show all of your other sources of income throughout the year i.e. PAYE income, Selfemployed income, deposit interest, dividend income etc.
Many landlords aren’t aware of the expenses and allowances that they can claim when they submit their tax return, which is why it can be very important to get in touch with an expert. Our tax advisors will be able to explain the allowances you could be entitled to.
If you are self-assessed, you must file a tax return by the 31st October following the end of the tax year. If you file online this deadline is extended by about 2 weeks.