Do I have to Do a Tax Return as a Landlord?

Tax return as a landlord

Accotax houses one of the best accountants for Landlords in London. We show you how you get the most out of your properties. Expect us to not only fill out and submit your tax returns. Further, you’ll also get special tax relief only available to Landlords.

Looking to increase the portfolio of your properties? We guide you on how to buy the most tax-efficient way to save more.

We’re not an accountancy firm that does your taxes. We give you something extra. This includes guidance on investing your rental income. We also help you with accounting records.


Do I have to do a tax return as a landlord?

The general answer is YES, but there are certain exemptions.

If you are on PAYE and have a gross rental income of less than £10K a year, with net profits of £2500 or less a year, you have an option where you don’t have to register for the self-assessment tax return with HM Revenue & Customs. But, You will have to make a declaration in writing to HM Revenue & Customs and request them to collect taxes through PAYE or Tax Code.


What if the property is Jointly Owned ( say – 50/50)?

The above threshold is for each individual, If you have a combined rental income of £19500 and net profits of £4,950 a year, it means each of you, will have a gross income £9750 and net profits of £2,475. It means you will qualify to declare rental income through a declaration and without registering for self-assessment tax return.

You must contact HMRC if your income from property rental is less than £2,500 a year. But you must report it on a Self Assessment tax return if it’s:

£2,500 to £9,999 after allowable expenses

£10,000 or more before allowable expenses

As a professional accountant, we do advise you to register and declare income through a personal tax return.

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