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Employed Persons Self Employed Landlords Other Income


The majority of landlords in the UK will be required to complete an annual self assessment tax return. When filing the return you will be required to provide details of your income during the previous year, as well as your expenditure.

Following are some key documents that you need to retain in order to fill in your tax return

  • Proof of rental income
  • Details of capital costs, for example furniture, including receipts
  • Details of allowable expenses

Landlords sometimes find it difficult to keep records of rental income because unlike many other businesses, they rely on rental income. Therefore, landlords must make that they keep the bank statements, and can differentiate the rental income from all other transactions. If you rent through a lettings agent, they should send you a monthly statement with the rent paid and details of their fees.

At Online Tax and Accounts, we have extensive experience in filing tax returns for landlords. We have helped many landlords with complicated rental income statements involving multiple properties and multiple owners. Thus, we have the necessary expertise to handle your tax return no matter the complexity.

Self Assesment Guide

Not everyone needs to complete a self assessment tax return. If your tax affairs are straightforward you may already pay all of the tax due on your earnings. But if you have complicated tax affairs a tax return need to be filed. This applies even if you already pay tax through your tax code.

01 So who should file self assessment tax returns?
  • Self-employed persons
  • A company director
  • Partner in a partnership business
  • A trustee
  • Receiving foreign income
  • Ministers of religion
  • Those whop receive untaxed income that cannot be collected through a PAYE tax code.
  • Those who claim annual business expenses of over £2,500
  • If you earn more than £10,000 or more from savings and investments
  • If your income is more than £2,500 from untaxed savings or investments
  • If your income from property is more than £10,000 before allowable expenses or £2,500 after allowable expenses
  • If your income from selling assets and you need to pay capital gains tax on the profit
  • If your income is more than £100,000 a year
  • If your income is taxable but HMRC can't collect the tax through your tax code.
02. When to submit your tax return?

If you send in a paper based tax return, it must reach HMRC by midnight on 31 October. If you miss this deadline you should send your return online. For online tax returns the deadline is midnight on 31 January. You'll have to pay a £100 penalty if HMRC doesn't receive your tax return on time. The later you send your return, the more penalties you will have to pay.
03. When do you need to register for self assessment?

You have to register for self assessment before you complete your first tax return. When you register you have to give HMRC the information they need to set up the right records for you. The best thing to do is to register with HMRC as soon as your circumstances change. The latest you should register is by 5 October after the end of the tax year for which you need a tax return. The tax year runs from 6 April one year to 5 April the next.
04. What information do I need before registering for self assessment?

  • Your National Insurance number
  • Your contact details and the contact details of your business.
  • Your ten-digit unique taxpayer reference number
  • The date your circumstances changed
05. Do you need to file a tax return?

HMRC will contact you, usually in April, if they think you need to fill in a tax return. You'll receive a letter which explains when you'll need to send your tax return back. If HMRC hasn't contacted you, but you think you may need to complete a tax return contact an accountant for advice.
06. Deadlines for filing the tax returns

All paper tax returns should be filed by 31 October each year. All online tax returns should be filed by 31 January each year.
07. Penalties for late filing of tax returns

Length of delay

Penalty you will have to pay

1 day late

A penalty of £100. This applies even if you have no tax to pay or have paid the tax you owe.

3 months late

£10 for each following day up to a 90 day maximum of £900. This is as well as the fixed penalty above.

6 months late

£300 or 5% of the tax due, whichever is the higher. This is as well as the penalties above.

12 months late

£300 or 5% of the tax due, whichever is the higher.
In serious cases you may be asked to pay up to 100% of the tax due instead.
These are as well as the penalties above.

What to do next

Contact us now on We will make it easier to file your tax return