Hi, I have been renting out a property for nearly 12months and I have to complete a self assessment for my earnings. I was told on the phone my HMRC to register online and I’d get a login code UTR. I’ve tried to login and I now need to wait for an activation code. What do I need to complete? I work full time and have received my P60. Once I’m on the self assessment site do I just complete an SA105 or does it just ask for my extra earnings from my property. I’m a complete newbie at self assessments so any help would be much appreciated.
Self assessment
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When you complete the self assessment form you'll be asked for details of tax already deducted which you take from the P60.When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).
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You declare ALL income from ALL(**) sources and complete the SA online..
** All sources: Property, job, other work, boot sales, ebay, bank interest, share dividends, the lot. (No offense ,,,) but the the name of the tax is "income tax".I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...
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Originally posted by theartfullodger View PostYou declare ALL income from ALL(**) sources and complete the SA online..
** All sources: Property, job, other work, boot sales, ebay, bank interest, share dividends, the lot. (No offense ,,,) but the the name of the tax is "income tax".
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by slopemasterConsidering selling our rental property and trying to estimate how much CGT is due. We are both basic rate tax payers and the gain from the property will take us into higher rate, so the amount of tax we pay will depend on income for that year – it does vary year to year. I presume the relevant income...
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Channel: Tax Questions
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https://assets.publishing.service.go...sa108-2022.pdf-
Channel: Tax Questions
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Reply to CGT and incomeby Lesney ParkYes
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Channel: Tax Questions
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Channel: Tax Questions
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Channel: Tax Questions
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Channel: Tax Questions
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