The Taxman has asked me about my rental income, but I’ve never made a profit from my let properties, so do I have to complete his form?
The Taxman is currently writing to people who he believes are letting properties, but that rental income is not shown on their tax returns. You do have to declare the rental income even if your interest payments and other expenses cancel it out to make a loss. You are not obliged to respond to the Taxman’s letter, but if you don’t things will only get worse.
