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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31861
Experience:  Over 5 years in practice
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I have a question regarding renting out a property 'as a

Customer Question

I have a question regarding renting out a property 'as a business'I am familiar with these three clauses-being a landlord is your main job
-you rent out more than one property
-you’re buying new properties to rent out (adding to your portfolio of properties)I simply do not understand the finer details of the third clause. I also don't know how the first clause is decided and by whom.Would I have to pay NI contributions in the following scenarios?Scenario W
Landlord is my main job, I rent out two properties but I am not buying any other properties.Scenario X
Landlord is not my main job, I rent out two properties and not buying any other properties.Scenario Y
Landlord is my main job but I only rent out 1 property andScenario Z
Landlord is my main job, I rent out 3 properties and am actively buying a fourthWho is it that actually decides or approves the breakdown of what constitutes a main job? Is it the HMRC or a tax adviser?Many thanks
Submitted: 1 year ago.
Category: Law
Expert:  Nicola-mod replied 1 year ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Ash replied 1 year ago.

Hello my name is ***** ***** I will help you with this.

How much would be be earning please?

Customer: replied 1 year ago.
In each scenario assume rental income of 35,000 before any deductions and tax/NIIf landlord is not your main job assume the income is always half the income made in rentals, say 17,500, even if it takes up most of your time.Please give answer to W X Y and Z and elaborate on the details of clauses 1 and 3
Many thanks